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| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB0726 Introduced 2/8/2021, by Rep. LaToya Greenwood SYNOPSIS AS INTRODUCED:
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Amends the Financially Distressed City Law of the Illinois Municipal Code. Provides that if a financially distressed city or the city's Financial Advisory Authority is awarded a State grant, any moneys the financially distressed city or Authority would be required to match under the grant are waived unless the moneys under the grant come from federal moneys that require the match. Provides that the entity awarding a State grant shall not consider a municipality's status as a financially distressed city in awarding a State grant. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | HB0726 | | LRB102 10072 AWJ 15392 b |
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| 1 | | AN ACT concerning local government.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Municipal Code is amended by |
| 5 | | adding Section 8-12-10.5 as follows:
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| 6 | | (65 ILCS 5/8-12-10.5 new) |
| 7 | | Sec. 8-12-10.5. State grants. If a financially distressed |
| 8 | | city or Authority is awarded a State grant, any moneys the |
| 9 | | financially distressed city or Authority would be required to |
| 10 | | match under the grant are waived unless the moneys under the |
| 11 | | grant come from federal moneys that require the match. The |
| 12 | | entity awarding a State grant shall not consider a |
| 13 | | municipality's status as a financially distressed city in |
| 14 | | awarding a State grant.
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| 15 | | Section 99. Effective date. This Act takes effect upon |
| 16 | | becoming law.
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