Synopsis As Introduced Creates the Community Investment Corporation Development Act. Creates the Community Investment Corporation Development Commission within the Department of Commerce and Economic Opportunity. Sets forth procedures for appointments to the Commission and sets forth procedures for its operation. Provides that a community investment corporation must be located in St. Clair County. Requires the Department of Commerce and Economic Opportunity to develop and maintain a program to make grants to communities seeking to establish community investment corporations. Requires the Commission to seek out funding sources to enhance the development of community investment corporations. Requires the Commission to annually report to the Governor and General Assembly recommendations for community investment corporations, including encouragement of pilot projects that would delegate eminent domain powers to citizens. Amends the State Finance Act to create the Community Investment Corporation Fund.
House Committee Amendment No. 1 Requires that the community investment corporation be located in the area known as the American Bottoms (now, St. Clair County) and lists the communities that comprise that area.
House Committee Amendment No. 2 Removes pilot projects concerning eminent domain from the list of recommendations to be reported annually by the Commission to the Governor and General Assembly. Removes the requirement for the adoption of rules. Provides that neither the Governor nor any agency or agency head under the jurisdiction of the Governor has any rulemaking authority under the amendatory Act, but that the Governor may suggest rules by filing them with the General Assembly and requesting that the General Assembly authorize such rulemaking by law, enact the suggested rules into law, or take other appropriate action in the General Assembly's discretion.
House Floor Amendment No. 3 Provides that the creation of the Commission and the provision to the Commission by the Department of Commerce and Economic Opportunity of staff and administrative support services are subject to appropriation.