Public Act 90-0660 of the 90th General Assembly
Public Act 90-0660
HB2533 Enrolled LRB9008581KDks
AN ACT in relation to economic development.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Civil Administrative Code of Illinois is
amended by adding Section 47.3 as follows:
(20 ILCS 605/47.3 new)
Sec. 47.3. The Economic Development Matching Grants
Program. The Department, in its discretion, may establish a
program of grants to be matched by economic development
entities in the State to finance and promote local economic
development. The Department is authorized to make grants,
subject to appropriations by the General Assembly for this
purpose, from the Economic Development Matching Grants
Program Fund, a special fund created in the State treasury,
to nonprofit organizations and local units of government
whose primary objectives are to promote Illinois communities
as sites for industrial and business location and expansion.
The goal of the program is to enhance the marketing of
Illinois by enabling regions and communities to market
themselves and thereby attract new business and industry to
the State and enhance the environment of growth for existing
business and industry. The applicant's proposed project must
have a definable impact on business and industrial
attraction, recruitment, or retention. Items eligible for
funding consideration include, but are not limited to,
specific, time-limited research studies related to industrial
and business recruitment or retention, advertising and public
relation expenses related to the applicant's proposed
project, and production of printed materials and brochures,
slide presentations and videotapes, and internet home pages
for distribution to those involved in expansion or relocation
activities. In determining the recipients of the grants,
consideration shall be given to the following factors: (1)
does the project demonstrate collaboration between more than
one municipality, county, and region; (2) does the project
demonstrate substantial potential for economic return from an
area outside the applicant's region and provide research
measurement; (3) does the project show creativity and good
design qualities and appropriately target a specific market;
(4) does the project support the Department's economic
development out-of-state marketing efforts; (5) is the
project a demonstrable part of a long-range marketing or
strategic plan; and (6) are the projected costs for the
project well-researched and reasonable. State grant dollars
shall be evenly matched by the applicant. Moneys
appropriated to the program of grants shall be deposited into
the Economic Development Matching Grants Program Fund and
shall not lapse into the General Revenue Fund at the end of a
fiscal year. The grants made under this Section shall be in
addition to any other grant programs currently in place and
administered by the Department. The Department shall adopt
rules to implement this program.
Section 10. The State Finance Act is amended by adding
Section 5.480 as follows:
(30 ILCS 105/5.480 new)
Sec. 5.480. The Economic Development Matching Grants
Program Fund.
Section 99. Effective date. This Act takes effect upon
becoming law.