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| | HB1730 Engrossed | | LRB097 05428 KMW 45486 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 adding |
| 5 | | Section 8-1-2.5 as follows:
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| 6 | | (65 ILCS 5/8-1-2.5 new) |
| 7 | | Sec. 8-1-2.5. Expenses for economic development. The |
| 8 | | corporate authorities may appropriate and expend funds for |
| 9 | | economic development purposes, including, without limitation, |
| 10 | | the making of grants to any other governmental entity or |
| 11 | | commercial enterprise that are deemed necessary or desirable |
| 12 | | for the promotion of economic development within the |
| 13 | | municipality.
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| 14 | | Section 99. Effective date. This Act takes effect upon |
| 15 | | becoming law.
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