ILLINOIS RESTAURANT ACT-HB 2557
This bill creates the Illinois Restaurant Revitalization Fund, a fund in the amount of $20,000,000. This fund will award restaurant revitalization grants to struggling businesses. These include businesses that have not received PPP funding from the federal government and are not publicly traded companies. The money will be used to rehire and retain workers for struggling businesses.
Priority for receiving these grants will go to smaller businesses, businesses earning less income, and businesses in poorer areas.
Under this legislation, the $20,000,000 will come from use and occupation tax; liquor taxes; and other sources associated with the hospitality industry. The bill would allow the hospitality industry to draw from the funds that they pay into.
This bill is sponsored in a bi-partisan way by my two favorite representatives on each side of the aisle, Lindsey LaPointe and Deanne Mazzochi.
Even if we can’t get this bill out of committee, its language should be worked into another bill!