IL HB4960

Establishes an annual transfer of $5,000,000 from the Underground Storage Tank Fund to the Brownfields Redevelopment Fund, beginning July 1, 2026

Expands permissible uses of Brownfields Redevelopment Fund moneys to include issuing grants and providing additional subsidization

Removes existing caps on Municipal Brownfields Redevelopment Grant Program awards, which previously limited most municipalities to $240,000 and River Edge Redevelopment Zone municipalities to $2,000,000

Maintains the requirement that grant amounts generally cannot exceed 70% of project costs, with municipalities providing the remaining local matching funds, unless otherwise provided by Agency rule