Illinois General Assembly - Bill Status for SB1850

Amends the Metropolitan Pier and Exposition Authority Act. In provisions regarding the Metropolitan Pier and Exposition Authority's Chief Executive Officer's requirement to certify to the State Comptroller and the State Treasurer the amounts of incentive grant funds used during the current fiscal year, provides that, during the years 2022 through 2024, the certification shall demonstrate registered attendance in excess of 3,000 individuals or in excess of 5,000 individuals, as appropriate, rather than registered attendance in excess of 5,000 individuals or in excess of 10,000 individuals, as appropriate. Provides that, on July 15, 2022 and each July 15 thereafter through July 15, 2026, the Comptroller shall order transferred, and the Treasurer shall transfer, into the Metropolitan Pier and Exposition Authority Incentive Fund from the General Revenue Fund an amount equal to the incentive grant funds certified by the Chief Executive Officer as having been lawfully paid under the provisions of the Section in the previous fiscal year that have not otherwise been transferred into the Metropolitan Pier and Exposition Authority Incentive Fund, except that transfers in excess of $15,000,000 shall not be made in any fiscal year. Makes other changes. Effective immediately.

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