TITLE 14: COMMERCE
SUBTITLE C: ECONOMIC DEVELOPMENT
CHAPTER 1: DEPARTMENT OF COMMERCE AND ECONOMIC OPPORTUNITY
PART 550 LOCAL TOURISM AND CONVENTION BUREAU PROGRAM
SECTION 550.30 ALLOCATION OF APPROPRIATIONS TO GRANTEES


 

Section 550.30  Allocation of Appropriations to Grantees

 

In accordance with the Act, annual appropriations made by the General Assembly to the Department for the purpose of this program are allocated as follows:

 

a)         ⅓ of the annual appropriation shall be used for grants to bureaus located within Chicago; and

 

b)         ⅔ of the annual appropriation shall be used for grants to bureaus located throughout the remainder of the State.  Subject to the cap set forth below, these funds will be distributed based on a formula containing the following weighted factors: 5% population of the bureau service area; 30% food/beverage tax collected in the bureau service area; and 65% of the State's hotel/motel tax collected in the bureau service area during the prior calendar year. 

 

c)         With the exception of bureaus located in Chicago, no bureau shall receive a grant in excess of $720,000 in State fiscal year 2005.  Each fiscal year thereafter, the cap shall be raised or lowered by the same percentage change that is made to the Department's appropriation to the Program, using State fiscal year 2005 as the base year.