HB4969 100TH GENERAL ASSEMBLY

LRB100 20297 JWD 35584 b

100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB4969

Introduced , by Rep. Litesa E. Wallace

SYNOPSIS AS INTRODUCED:

20 ILCS 605/605-1025 new

Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity shall make grants to units of local government and school districts for the redevelopment of unused public buildings into commercial and retail space to be rented at below-market rates to start-up businesses and existing small businesses. Provides that a portion of the space redeveloped with grants and financial assistance provided under this provision is to be set aside for start-up businesses and existing small businesses owned by minorities, women, and persons with disabilities.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning State government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois is amended by adding Section 605-1025 as follows:

(20 ILCS 605/605-1025 new)

Sec. 605-1025. Grants to redevelop unused public buildings. To make grants and provide financial assistance to units of local government and school districts for the rehabilitation and redevelopment of unused public buildings into commercial and retail space to be rented at below-market rates to start-up businesses and existing small businesses. The Department shall by rule provide for a portion of the commercial and retail space rehabilitated and redeveloped with grants and financial assistance provided under this Section to be set aside for start-up businesses and existing small businesses owned by minorities, women, and persons with disabilities.