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| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB1982 Introduced 2/26/2021, by Sen. Laura Fine SYNOPSIS AS INTRODUCED:
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Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that of the federal funds received by the State for purposes related to the COVID-19 public health emergency, 25% of any such funds shall be allocated as grants to businesses with less than 50 employees. Provides eligibility requirements for businesses seeking to receive such grants. Provides that the Department of Commerce and Economic Opportunity shall award grants in the amount of $5,000 to eligible businesses. Provides that a business shall only be eligible for one such grant. Requires the Department to publish the names of the businesses that are awarded grants on its Internet website. Provides for the adoption of rules.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | SB1982 | | LRB102 11902 RJF 17238 b |
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| 1 | | AN ACT concerning State 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 Department of Commerce and Economic |
| 5 | | Opportunity Law of the
Civil Administrative Code of Illinois |
| 6 | | is amended by adding Section 605-1055 as follows:
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| 7 | | (20 ILCS 605/605-1055 new) |
| 8 | | Sec. 605-1055. Coronavirus relief small business grants. |
| 9 | | (a) Of the federal funds received by the State for |
| 10 | | purposes related to the COVID-19 public health emergency, 25% |
| 11 | | of any such funds shall be allocated as grants to businesses |
| 12 | | with less than 50 employees as provided under this Section. |
| 13 | | (b) To be eligible for grants under this Section, a |
| 14 | | business must employ less than 50 employees and must |
| 15 | | demonstrate at least a 25% reduction in gross income from 2019 |
| 16 | | to 2020, or show such a reduction for any quarter during that |
| 17 | | time period. |
| 18 | | (c) Subject to appropriation, the Department shall award |
| 19 | | grants in the amount of $5,000 to eligible businesses meeting |
| 20 | | the requirements set forth in subsection (b). Grants shall be |
| 21 | | awarded in order of receipt of the grant application. A |
| 22 | | business shall only be eligible for one grant provided under |
| 23 | | this Section. |