Bill Text: IL HB0726 | 2021-2022 | 102nd General Assembly | Engrossed
Bill Title: Amends the Financially Distressed City Law of the Illinois Municipal Code. Provides that if a financially distressed city or the city's Financial Advisory Authority is awarded a State grant, any moneys the financially distressed city or Authority would be required to match under the grant are waived unless the moneys under the grant come from federal moneys that require the match. Provides that the entity awarding a State grant shall not consider a municipality's status as a financially distressed city in awarding a State grant. Effective immediately.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2022-03-04 - House Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee [HB0726 Detail]
Download: Illinois-2021-HB0726-Engrossed.html
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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 | ||||||
| 5 | adding Section 8-12-10.5 as follows:
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| 6 | (65 ILCS 5/8-12-10.5 new) | ||||||
| 7 | Sec. 8-12-10.5. State grants. If a financially distressed | ||||||
| 8 | city or Authority is awarded a State grant, any moneys the | ||||||
| 9 | financially distressed city or Authority would be required to | ||||||
| 10 | match under the grant are waived unless the moneys under the | ||||||
| 11 | grant come from federal moneys that require the match. The | ||||||
| 12 | entity awarding a State grant shall not consider a | ||||||
| 13 | municipality's status as a financially distressed city in | ||||||
| 14 | awarding a State grant.
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| 15 | Section 99. Effective date. This Act takes effect upon | ||||||
| 16 | becoming law.
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