DCEO-GRANT FUNDING RULES

Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that for fiscal years 2022, 2023, and 2024 only, the Department shall adopt rules that allow the Department to provide no more than 50% of the total funding awarded to qualified and selected applicants at the time an executed grant agreement is in place for specified grant programs established under the Code and any other such programs funded through the Rebuild Illinois Capital Program or other public infrastructure programs administered by the Department. Provides that the rules shall establish a process in which the Department may recoup costs if the entity receiving the grant does not satisfy the requirements necessary to receive full funding for the approved grant project. Repeals the provision on July 1, 2024. Effective immediately.