Section 41.130  Recovery of Grant Funds

All grant funds not spent or obligated within 2 years after the grantee's receipt of the funds shall be returned to CDB within 45 days.  Interest earned on grant funds held by the grantee after the 2-year expiration date, or after project completion or termination, whichever comes first, shall become part of the grant principal and shall be so treated for all purposes. If, after receipt of grant funds, the grantee fails to commence the project, all grant funds and any interest earned shall be returned to CDB.  If the grantee fails to return the funds, recovery shall be accomplished pursuant to provisions of the Illinois Grant Funds Recovery Act.