ESSENTIAL SUPPLY EXEMPTION

Amends the Illinois Enterprise Zone Act. Provides that priority in the use of industrial development bonds issued by the Illinois Finance Authority shall be given to small businesses that manufacture medical provisions, process food, or produce goods and services identified under a disaster proclamation or executive order issued by the Governor. Provides that specified businesses that produce medical provisions, food infrastructure, or important and essential supplies shall not be subject to any statutory and regulatory restrictions from the State of Illinois if those restrictions are more stringent than those required by federal law. Provides further requirements concerning this exemption. Provides for a preference in the awarding of State contracts to small businesses that produce medical provisions, food infrastructure, or important and essential supplies. Requires the Department of Public Health to identify drug and hospital supplies that are critical to preserving and protecting the health and safety of Illinois residents, and provide notice of potential supply disruption. Creates the Illinois Known Drug Safety and Efficacy Opportunity Board and the Illinois Food Processing and Distribution Board for specified purposes and duties. Defines terms. Effective immediately.