reglab/statecodes huggingface dataset:
Illinois Administrative Code › Title 14 - COMMERCE › Part 690 - BUSINESS INTERRUPTION GRANT PROGRAM › Subpart E - REPAYMENT OF ELIGIBLE LOANS UNDER THE EMERGENCY LOAN FUND PROGRAM › Section 690.310 - Selection Process

Current through Register Vol. 48, No. 28, July 12, 2024
a) Subject to
				the availability of funds, the Department and its qualified partner will
				announce, to eligible businesses, fund availability and the application
				procedures for financial assistance via its website and other communication
				mediums. The application shall identify the information and supporting
				documentation applicants must include in their requests for financial
				assistance. The Department's qualified partner shall accept the applications
				for financial assistance.
b) Each
				application for financial assistance shall include a request for the following
				information:
1) The amount of funds borrowed
				by the applicant from ELF and how much remains unpaid;
2) The amount of costs and losses experienced
				by the applicant's business from March 1, 2020 until the present;
3) The amount of funds received from other
				CARES Act-funded programs by the applicant;
4) 2020 bank statements; and
5) Any other information requested by the
				Department or its qualified partner to assist in determining eligibility under
				this repayment program, the offering of financial assistance to an applicant,
				and the type of assistance that may be offered.
Illinois Administrative Code › Title 14 - COMMERCE › Part 690 - BUSINESS INTERRUPTION GRANT PROGRAM › Subpart E - REPAYMENT OF ELIGIBLE LOANS UNDER THE EMERGENCY LOAN FUND PROGRAM › Section 690.320 - Priority Status

Current through Register Vol. 48, No. 28, July 12, 2024
Priority for financial assistance under this repayment
				  program shall be given to borrowers first. After eligible borrowers are offered
				  financial assistance, priority will be given to businesses who applied but did
				  not receive a loan under ELF that are located in a disproportionately impacted
				  area, did not receive financing under the Paycheck Protection Program, or are
				  located in downstate Illinois. If funds under this repayment program remain
				  unobligated after the initial disbursement to the previously mentioned groups,
				  the Department's qualified partner will select additional recipients from
				  applicants of this repayment program, utilizing a lottery
				  method.
Illinois Administrative Code › Title 14 - COMMERCE › Part 690 - BUSINESS INTERRUPTION GRANT PROGRAM › Subpart F - FINANCIAL ASSISTANCE TO ACUTELY DISTRESSED INDUSTRIES › Section 690.400 - Prioritizing Acutely Distressed Industries

Current through Register Vol. 48, No. 28, July 12, 2024
a) This Subpart F creates a program offering
				funding opportunities to acutely distressed industries (ADI) that meet the
				minimum requirements established under BIG and the CARES Act. The Department
				will be responsible for determining which industries shall be designated as
				ADI. To determine which applicants will qualify as a member of an ADI, the
				Department will establish and provide to its qualified partners evaluation
				criteria that will include, but are not limited to, the following:
1) Intent and purpose of the enabling
				legislation;
2) State and federal
				guidelines regarding COVID-19;
3)
				Data from the Illinois Department of Public Health and other reputable sources;
				and
4) Any other factors deemed
				necessary to reach the most impacted businesses and industries.
Illinois Administrative Code › Title 14 - COMMERCE › Part 690 - BUSINESS INTERRUPTION GRANT PROGRAM › Subpart G - TECHNICAL ASSISTANCE › Section 690.500 - Set-Aside for Technical Assistance

Current through Register Vol. 48, No. 28, July 12, 2024
The Department will utilize CURE funds to implement a program
				  that will provide financial assistance to qualified non-profit organizations to
				  provide technical assistance to diverse, underserved and minority-owned small
				  businesses. Technical assistance will be provided to increase the awareness of,
				  and to assist in the procurement of, financial assistance under BIG and other
				  relevant resources.
Illinois Administrative Code › Title 14 - COMMERCE › Part 691 - BACK TO BUSINESS GRANT PROGRAM › Subpart A - GENERAL PROVISIONS › Section 691.10 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
The purpose of the Back to Business Grant Program ("Program")
				  is to provide financial support to for-profit businesses or not-for-profit
				  organizations that have experienced economic harm, financial hardship,
or other adverse conditions due to the COVID-19 public health
				  emergency
[20
				  ILCS 605/605-1050 ]. In this Part, financial
				  assistance provided through the Program shall be consistent with the
				  requirements of the Coronavirus State Fiscal Recovery Fund ("CSFRF")
				  implemented by Section 602 of Title VI of the federal Social Security Act
				  (42 U.S.C.
				  802 et seq.) and any rules or guidance issued
				  by the U.S. Department of the Treasury (including, but not limited to
https://www.govinfo.gov/content/pkg/FR-2021-05-17/pdf/2021-10283.pdf
and
https://home.treasury.gov/system/files/136/SLFRPFAQ.pdf
),
				  the Department of Commerce & Economic Opportunity ("DCEO"), and any other
				  applicable State and federal agency. Financial assistance shall be prioritized
				  for communities most in need of assistance, as determined by numbers or rates
				  of infection and economic measures identified in this Part. Assistance may be
				  used to adopt safer operating procedures, weather periods of closure, or
				  mitigate financial hardship resulting from the COVID-19 public health
				  emergency. DCEO will identify how the Program addresses the identified need or
				  impact faced by small businesses. The Program may utilize a series of funding
				  opportunities.
Illinois Administrative Code › Title 14 - COMMERCE › Part 691 - BACK TO BUSINESS GRANT PROGRAM › Subpart A - GENERAL PROVISIONS › Section 691.30 - GATA Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
a) The
				Program is subject to the Grant Accountability and Transparency Act [30 ILCS
				708 ], with any exceptions granted by GOMB.
b) To the extent the Program is implemented
				using grant agreements, at a minimum, the provisions of
				2 CFR 200.303
				and
				200.330
				through
				200.332
				of the Uniform Guidance apply to grant recipients.
Illinois Administrative Code › Title 14 - COMMERCE › Part 691 - BACK TO BUSINESS GRANT PROGRAM › Subpart A - GENERAL PROVISIONS › Section 691.40 - Qualified Partners

Current through Register Vol. 48, No. 28, July 12, 2024
a) The
				Department may enter into grant agreements, contracts, or intermediary
				agreements with Qualified Partners to implement the Program. The Department may
				award grants to Qualified Partners to provide financial assistance to
				Qualifying Businesses or contract with Qualified Partners to secure services to
				implement the Program. The nature of the services provided by a Qualified
				Partner shall determine whether the arrangement is a grant, procurement, or
				other relationship.
b) A Qualified
				Partner shall operate as a non-profit organization registered to conduct
				business in the State of Illinois or a financial institution that has
				demonstrated experience providing financing or services to businesses or
				residents located in Disproportionately Impacted Areas.
c) An agreement with a Qualified Partner
				shall specify the Qualified Partner's responsibility, if any, for determining
				Qualified Business' eligibility for financial assistance and monitoring Program
				Participants for compliance with Program requirements.
d) In accordance with
				20
				ILCS 605/605-1050(h), nothing in this
				Part shall restrict the Department from securing services from entities other
				than Qualified Partners to assist in implementing the Program.
Illinois Administrative Code › Title 14 - COMMERCE › Part 691 - BACK TO BUSINESS GRANT PROGRAM › Subpart A - GENERAL PROVISIONS › Section 691.50 - Prioritization

Current through Register Vol. 48, No. 28, July 12, 2024
a) The Department
				will provide targeted funding opportunities for industries and businesses most
				impacted by the COVID-19 Public Health Emergency. In determining which
				industries and businesses to prioritize, the Department will consider the
				impact of compliance with the COVID-19 Prevention Directives on business
				operations or the impact of the COVID-19 Public Health Emergency on the
				impacted industry. The Department will also prioritize funding to small and
				smallest businesses. Assistance will be targeted to businesses facing financial
				insecurity, with substantial declines in gross receipts, or facing other
				economic harm due to the pandemic, as well as businesses with less capacity to
				weather financial hardship, such as the smallest businesses, those with less
				access to credit, or those serving disadvantaged communities. The Department
				will make this determination on whether to provide targeted funding
				opportunities based on an ongoing assessment regarding the needs of the
				business community and announce the targeted funding opportunities on its
				website as permitted by statute [20
				ILCS 605/605-1050(h)(6) ].
b) To prioritize funding for industries and
				business districts that were not enumerated within ARPA, the Department shall
				maintain an assessment for a period of 5 years, from the date a prioritized
				industry is selected, that outlines how these industries or business districts
				experienced a negative economic impact due to the pandemic comparable to
				enumerated industries. Additionally, the Department shall outline how program
				funding will address this negative economic impact.
Illinois Administrative Code › Title 14 - COMMERCE › Part 691 - BACK TO BUSINESS GRANT PROGRAM › Subpart A - GENERAL PROVISIONS › Section 691.60 - Disproportionately Impacted Areas

Current through Register Vol. 48, No. 28, July 12, 2024
a) The
				Department will allocate no less than 40% of program funding to Qualifying
				Businesses located in Disproportionately Impacted Areas.
b) A Disproportionately Impacted Area may be
				added or removed from prioritization based on changes in relative COVID-19
				rates and economic distress. If the Department recategorizes an area, removing
				its designation as a disproportionately impacted area, businesses that have
				applied prior to that update will maintain the previous prioritization
				status.
c) In determining
				prioritization of industries or zip codes within Disproportionately Impacted
				Areas, the Department will give greater weight to areas that had significantly
				higher rates of COVID-19 cases per capita and zip codes with higher levels of
				poverty.
d) The Department shall
				maintain records for a period of 5 years, from the date a prioritized zip code
				or industry is selected, the assessment of how the Department identified each
				Disproportionately Impacted Area.
Illinois Administrative Code › Title 14 - COMMERCE › Part 691 - BACK TO BUSINESS GRANT PROGRAM › Subpart A - GENERAL PROVISIONS › Section 691.70 - Eligible Applicants

Current through Register Vol. 48, No. 28, July 12, 2024
a) An
				eligible applicant for financial assistance under the Program is a business
				operating within the State of Illinois that:
1) annually earns a gross income of $20
				million or less except for hotels, which may annually earn a gross income of
				$35 million or less;
2) for
				purposes of determining loss, was in operation as of December 2019;
3) earned less gross income during the 2020
				calendar year than the 2019 calendar year due to the negative impact of the
				COVID-19 pandemic, and that total loss exceeds $5,000;
4) temporarily closed, had reduced
				operations, or experienced depressed consumer demand during the COVID-19
				pandemic; and
5) is not excluded
				due to select funding rounds providing financial assistance for prioritized
				industries.
Illinois Administrative Code › Title 14 - COMMERCE › Part 691 - BACK TO BUSINESS GRANT PROGRAM › Subpart A - GENERAL PROVISIONS › Section 691.80 - Form of Financial Assistance

Current through Register Vol. 48, No. 28, July 12, 2024
Financial Assistance under the Program may be in the form of
				  a grant, subsidy, or expense reimbursement, to respond to the negative economic
				  impacts of the COVID-19 public health emergency. Regardless of the assistance
				  structure, a Program Participant shall be obligated to comply with requirements
				  outlined in this Part and any accompanying agreements incorporated within an
				  application for Financial Assistance.
Illinois Administrative Code › Title 14 - COMMERCE › Part 691 - BACK TO BUSINESS GRANT PROGRAM › Subpart A - GENERAL PROVISIONS › Section 691.90 - Financial Assistance Application Process

Current through Register Vol. 48, No. 28, July 12, 2024
a) Interested businesses shall apply to this
				Program, utilizing an electronic application, which the applicant will access
				by visiting the Department's website and clicking the appropriate hyperlink
				that will forward the applicant to the application portal administered by the
				Qualified Partner of the Department. If the Department announces additional
				funding opportunities requiring an applicant to use a different application
				procedure, that information will be made available on its website.
b) Applicants selected for an award shall be
				required to sign a certification agreement that attests to their eligibility
				for the Program and compliance with programmatic requirements for funding as
				described in this Part.
c) To
				assist in determining whether an applicant is eligible and to ensure compliance
				with State and federal requirements, Qualified Partners will request the
				applicant to submit the following documentation with their application:
1) Business Owner/Representative Valid
				Identification (Driver's License, State ID, Passport, or Matricular Consular
				Card);
2) 2019 Federal Income Tax
				Return;
3) 2020 Federal Income Tax
				Return;
4) Completed W-9
				form;
5) Most recent bank
				statement;
6) One monthly business
				bank statement between April 1, 2020 and December 31, 2020 that reflects
				business expenses;
7) Data
				Universal Numbering System (DUNS) number or other unique identifier requested
				by the Department and;
8) Any other
				information or proof necessary to confirm the existence of the applicant and
				its eligibility to participate in the Program.
Illinois Administrative Code › Title 14 - COMMERCE › Part 691 - BACK TO BUSINESS GRANT PROGRAM › Subpart A - GENERAL PROVISIONS › Section 691.100 - Selection Process

Current through Register Vol. 48, No. 28, July 12, 2024
a) The
				Department or its Qualified Partners shall select awardees under the Program
				using a competitive scoring model. Businesses will receive a higher score if
				they meet any of the following priority codes:
1) Deemed a smaller business;
2) Located with a DIA;
3) Has yet to qualify for state or federal
				assistance; or
4) Has been
				prioritized as a hard-hit industry (full list of priority industries on
				Department website).
Illinois Administrative Code › Title 14 - COMMERCE › Part 691 - BACK TO BUSINESS GRANT PROGRAM › Subpart A - GENERAL PROVISIONS › Section 691.110 - Allowable Expenditures

Current through Register Vol. 48, No. 28, July 12, 2024
a) ARPA
				permits program funding to be used to respond to the COVID-19 Public Health
				Emergency and its negative economic impacts.
b) Allowable expenditures under ARPA include
				permitted expenses incurred on or after March 1, 2020, and up to December 31,
				2024, providing obligations incurred by December 31, 2024, are expended by
				December 31, 2026. Eligible expenses include supporting payroll and benefits
				costs, costs to retain employees, mortgage payments, rent or utility costs, and
				other operating costs. Additionally, eligible expenses also include costs to
				implement COVID-19 Prevention or mitigation tactics, such as physical plant
				changes to enable social distancing, enhanced cleaning efforts, construction of
				barriers or partitions, and related expenses according to U.S. Department of
				the Treasury guidance and ARPA.
c)
				The Department will identify allowable expenditures under the Program and
				outline those permitted expenses on the Department's website. The Department
				will utilize ARPA and the applicable rules and guidelines furnished by the
				federal government to establish the State's guidelines regarding allowable
				uses. It will update this information as more federal guidelines become
				available.
d) Expenditures that
				have been or will be reimbursed under other programs that utilize federal funds
				are not allowable under this program.
Illinois Administrative Code › Title 14 - COMMERCE › Part 691 - BACK TO BUSINESS GRANT PROGRAM › Subpart A - GENERAL PROVISIONS › Section 691.120 - Reporting Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
Each Program Participant and Qualified Partners shall submit
				  all reports required pursuant to any project and expenditure reporting
				  requirements identified by the Department of the Treasury in a format and at a
				  time required by the Department. As this information becomes more readily
				  available through federal rules and guidelines, the Department will include
				  this information on its website and other available mediums.
Illinois Administrative Code › Title 14 - COMMERCE › Part 691 - BACK TO BUSINESS GRANT PROGRAM › Subpart A - GENERAL PROVISIONS › Section 691.130 - Recordkeeping Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
a) Program
				participants shall maintain, for 5 years from the date the award was last
				expended or returned to the Qualified Partners, adequate books, financial
				records and supporting documents, statistical records, and all other records
				pertinent to awards made under this Program. If any litigation, claim, or audit
				is started before the expiration of the retention period, the records must be
				retained until all litigation, claims, or audit exceptions involving the
				records have been resolved, and final action is taken.
b) Program participants shall provide or make
				available all records related to awards made under this Program to the
				Qualified Partner, the Department or to the U.S. Department of the Treasury
				upon request, and to any authorized oversight body, including, but not limited
				to, the Illinois Attorney General, the Illinois Auditor General, the Illinois
				Office of the Executive Inspector General, the Government Accountability Office
				("GAO"), Treasury's Office of Inspector General ("OIG"), and the Pandemic
				Relief Accountability Committee ("PRAC").
Illinois Administrative Code › Title 14 - COMMERCE › Part 691 - BACK TO BUSINESS GRANT PROGRAM › Subpart A - GENERAL PROVISIONS › Section 691.140 - Noncompliance

Current through Register Vol. 48, No. 28, July 12, 2024
A Program Participant shall return all funds provided under
				  the Program if it does not adequately address a deficiency within a reasonable
				  amount of time, not to exceed 30 days, does not comply with any requirements in
				  this Part or breaches any material term of the Financial Assistance agreement
				  or certification. A material term is any term that relates to eligibility for
				  Program participation, reimbursement under the SLFRF, or compliance with State
				  and federal law, including COVID-19 Prevention Directives. Recovery of funds in
				  the event of noncompliance may be effectuated by any means authorized under
				  Illinois law, including the Grant Funds Recovery Act for any Financial
				  Assistance in the form of a grant or the Illinois False Claims Act for any
				  Financial Assistance gained using false information.
Illinois Administrative Code › Title 14 - COMMERCE › Part 691 - BACK TO BUSINESS GRANT PROGRAM › Subpart B - STARTUP GRANTS PROGRAM AND REACTIVATING VACANT AND MAINSTREET PLACES GRANTS PROGRAM › Section 691.210 - Program Administration

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				Programs
Businesses seeking financial assistance under this Subpart
				  must submit an application to the Department's Qualified Partner for one of the
				  following programs:
1) Startup Grants
				Program: A grant program to provide relief for lost revenues and costs incurred
				due to COVID-19 for businesses that incorporated and started operations between
				January 1, 2020, and December 31, 2021.
2) Reactivating Vacant and Mainstreet Places
				(REVAMP) Grants Program: A grant program that reimburses businesses for
				COVID-19 related costs incurred after March 13, 2020, for businesses occupying
				a commercial property that had been vacant without a tenant for a minimum of 90
				consecutive days ending on or after March 1, 2020.
Illinois Administrative Code › Title 14 - COMMERCE › Part 691 - BACK TO BUSINESS GRANT PROGRAM › Subpart B - STARTUP GRANTS PROGRAM AND REACTIVATING VACANT AND MAINSTREET PLACES GRANTS PROGRAM › Section 691.220 - Startup Grants Program Eligibility

Current through Register Vol. 48, No. 28, July 12, 2024
A business applying for the Startup Grants Program must be an
				  independently owned and operated for-profit corporation, a limited liability
				  corporation, a partnership, a non-profit organization or a sole proprietorship
				  authorized to conduct business and operating in the State of Illinois. To be
				  eligible, the business must be either (1) operating in a hard-hit industry, or
				  (2) majority-owned by an individual or individuals that became unemployed
				  between March 13, 2020, and the date that the business started operations. All
				  ineligible businesses listed in Subpart A (see Section
				  691.70(c) and
				  (d)) are also ineligible to apply under the
				  Startup Grants Program, except for businesses that derive a majority of their
				  income as an owner of real property that leases that property to a tenant or
				  tenants under a lease agreement (see Section
				  691.70(c)(9)) ;
				  and employment agencies (see Section
				  691.70(c)(15)).
				  Businesses that operate COVID-19 testing sites or COVID-19 vaccine distribution
				  sites primarily, and businesses that previously received a Back to Business or
				  Business Interruption Grant, are ineligible to apply for the Startup Grants
				  Program. To be eligible, all applicants that incorporated (or for businesses
				  not required to incorporate, began operating) between January 1, 2020 and the
				  date of application submission, shall have earned less than $20 million in
				  gross operating revenue for 2021. If the business incorporated (or for
				  businesses not required to incorporate, began operating) starting January 1,
				  2021 or later, to be eligible, a pro-rated amount of the applicant's earnings
				  in 2021 must equate to less than $20 million in gross operating revenue based
				  on the number of days in operation when extrapolated for a full
				  year.
Illinois Administrative Code › Title 14 - COMMERCE › Part 700 - LOCAL CORONAVIRUS URGENT REMEDIATION EMERGENCY (OR LOCAL CURE) SUPPORT PROGRAM › Section 700.10 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
The purpose of the Local Coronavirus Urgent Remediation
				Emergency (or Local CURE) Support Program is to
administer federal
				funds from the Coronavirus Relief Fund provided to the State pursuant to
				section 5001 of the federal CARES Act to provide financial support to units of
				local government for purposes authorized by section 5001 of the CARES Act and
				related federal guidance
and any subsequent guidance issued by the
				U.S. Department of the Treasury.
Upon receipt of
those
funds, and
based on
appropriations for their use, the
				Department shall administer a program to provide financial support to units of
				local government that have incurred necessary expenditures due to the COVID-19
				public health emergency.
[20 ILCS
				605/605-1045(a)]
Illinois Administrative Code › Title 14 - COMMERCE › Part 700 - LOCAL CORONAVIRUS URGENT REMEDIATION EMERGENCY (OR LOCAL CURE) SUPPORT PROGRAM › Section 700.30 - GATA Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
a) The
			 Department will be excepted from the following Grant Accountability and
			 Transparency Act requirements for funds allotted to local governments under
			 Section
			 700.80(a),
			 (b) and (c):
1) The Department will not be required to
			 issue a notice of funding opportunity (NOFO);
2) Applications will not be subject to a
			 merit-based review process;
3) In
			 lieu of the GATA Uniform Grant Agreement, the Department will utilize a
			 certification form for the units of local government to complete in order to
			 receive funding.
Illinois Administrative Code › Title 14 - COMMERCE › Part 700 - LOCAL CORONAVIRUS URGENT REMEDIATION EMERGENCY (OR LOCAL CURE) SUPPORT PROGRAM › Section 700.40 - Local Government Eligibility Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
a) Local governments are eligible for Local
			 CURE Program allocations under Section
			 700.80(a),
			 (b) and (c) if they meet the following
			 criteria:
1) The local government is within
			 the State of Illinois, except that units of local government, or portions
			 thereof, located within the five Illinois counties that received direct
			 allotments from the CARES Act fund will not be included in the Local CURE
			 Program; and
2) The local
			 government incurred necessary expenses due to the COVID-19 public health
			 emergency.
Illinois Administrative Code › Title 14 - COMMERCE › Part 700 - LOCAL CORONAVIRUS URGENT REMEDIATION EMERGENCY (OR LOCAL CURE) SUPPORT PROGRAM › Section 700.50 - Restrictions on the Use of Program Funds

Current through Register Vol. 48, No. 28, July 12, 2024
a) The Local CURE Program expenditures must
			 follow the requirements of the CARES Act. Accordingly, payments to local
			 governments under the Local CURE Program may only be used to cover costs that:
1) Are necessary expenditures incurred due to
			 the public health emergency with respect to COVID-19;
2) Were not accounted for in the budget most
			 recently approved as of March 27, 2020 (the date of enactment of the CARES Act)
			 for the local government; and
3)
			 Were incurred during the allowed time period set forth in the Local CURE
			 Program statute [20 ILCS
			 605/605-1047] and posted on the Department's
			 website.
Illinois Administrative Code › Title 14 - COMMERCE › Part 700 - LOCAL CORONAVIRUS URGENT REMEDIATION EMERGENCY (OR LOCAL CURE) SUPPORT PROGRAM › Section 700.60 - Eligible and Ineligible Costs for Incurred Expenses

Current through Register Vol. 48, No. 28, July 12, 2024
a) Funding Allotments Under Section
			 700.80(a),
			 (b) and (c)
1) Eligible incurred expenses for funding
			 allotments received under Section
			 700.80(a),
			 (b) and (c) include the following five
			 categories of costs and meet the restrictions on use of Local CURE Program
			 funds (see Section
			 700.50):
A) Medical expenses, including, but not
			 limited to, expenses of establishing temporary public medical facilities and
			 other measures to increase COVID-19 treatment capacity, costs of providing
			 COVID-19 testing, and emergency medical response expenses;
B) Public health expenses, including, but not
			 limited to, expenses for communication and enforcement by local governments of
			 public health orders related to COVID-19;
C) Payroll expenses for public safety, public
			 health, health care, human services, and similar employees whose services were
			 substantially dedicated to mitigating or responding to COVID-19;
D) Expenses for actions taken to facilitate
			 compliance with COVID-19 related public health measures, including purchases by
			 local governments to implement public health recommendations at local
			 businesses; and
E) Any other
			 COVID-19 related expenses reasonably necessary to the function of government
			 that satisfy the Local CURE Program eligibility criteria (see Section
			 700.40),
			 including, but not limited to, administrative expenses. Local governments must
			 document how expenses are related to COVID-19.
Illinois Administrative Code › Title 14 - COMMERCE › Part 700 - LOCAL CORONAVIRUS URGENT REMEDIATION EMERGENCY (OR LOCAL CURE) SUPPORT PROGRAM › Section 700.70 - Third Party Administrator

Current through Register Vol. 48, No. 28, July 12, 2024
The Department may enter into agreements with one or more third
				party administrators to provide operational assistance with the administration
				of the Local CURE Program, including, but not limited to:
a) reviewing documentation submitted and
			 recommending approval of financial support payments to local governments;
			 and
b) providing technical
			 assistance to local governments.
Illinois Administrative Code › Title 14 - COMMERCE › Part 700 - LOCAL CORONAVIRUS URGENT REMEDIATION EMERGENCY (OR LOCAL CURE) SUPPORT PROGRAM › Section 700.90 - Certification Process for Allocations Based on Proportionate Population

Current through Register Vol. 48, No. 28, July 12, 2024
a) Eligible local
			 governments, as defined in Section
			 700.40,
			 will be notified by the Department or third party administrator regarding their
			 maximum allotment based on proportionate population, as described in Section
			 700.80(a)
			 and (b). A local government does not need to
			 register or be pre-qualified with the GATA Grantee Portal.
b) Notification of Allotment
1) The notification of allotment will contain
			 a certification form for the local government to complete. The local government
			 will be required to certify, among other things, that, as a recipient of
			 financial support under the Local CURE Program, the local government will:
A) use the funds in accordance with the
			 requirements of the Local Cure Program;
B) provide access to financial records in
			 accordance with the prescribed audit (see Section
			 700.30(b)(3))
			 and record retention (see Section
			 700.110)
			 requirements;
C) only request
			 reimbursement for expenses related to the COVID-19 public health
			 emergency;
D) repay to the
			 Department any funds received but not used for the purposes of the Local CURE
			 Program;
E) not seek reimbursement
			 for incurred expenses (see Section
			 700.50)
			 that have been or will be reimbursed through another State or federal funding
			 opportunity;
F) comply with all
			 applicable federal and State laws and rules;
G) include Local CURE funding in the
			 applicable financial statement and/or audit of the unit of local
			 government;
H) not seek
			 reimbursement for costs paid to an entity on the federal or State debarred and
			 suspended list; and
I) state
			 whether it intends to spend the full allotment.
Illinois Administrative Code › Title 14 - COMMERCE › Part 700 - LOCAL CORONAVIRUS URGENT REMEDIATION EMERGENCY (OR LOCAL CURE) SUPPORT PROGRAM › Section 700.100 - Process for Reimbursement Requests Under Section 700.80(c)

Current through Register Vol. 48, No. 28, July 12, 2024
a) For local
			 governments that are applying for Local CURE Program funds pursuant to Section
			 700.80(c),
			 the Department will announce funding availability and request procedures on its
			 website as funding becomes available. A request must be completed, signed by
			 the local government's authorized representative, and received by the
			 Department or its third party administrator by the deadline to be set by the
			 Department.
b) Local governments
			 chosen to receive funds shall, in the certification form provided by the
			 Department, certify, among other things, that, as a recipient of financial
			 support under the Local CURE Program, the local government will:
1) use the funds in accordance with the
			 requirements of the Local CURE Program;
2) only request reimbursement for expenses
			 related to the COVID-19 public health emergency;
3) repay to the Department any funds received
			 but not used for the purposes of the Local CURE Program;
4) not seek reimbursement for incurred
			 expenses (see Section
			 700.50)
			 that have been or will be reimbursed through another State or federal funding
			 opportunity;
5) provide access to
			 financial records in accordance with audit and record retention
			 requirements;
6) include Local CURE
			 funding in the applicable financial statement and/or audit of the local
			 government;
7) not seek
			 reimbursement for costs paid to an entity on the federal or State debarred and
			 suspended list; and
8) comply with
			 all applicable federal and State laws and rules.
Illinois Administrative Code › Title 14 - COMMERCE › Part 700 - LOCAL CORONAVIRUS URGENT REMEDIATION EMERGENCY (OR LOCAL CURE) SUPPORT PROGRAM › Section 700.110 - Monitoring and Records Retention

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 The Department or a third party administrator will conduct monitoring of the
			 Local CURE Program to ensure funds were spent in accordance with the Local CURE
			 Program statute and this Part.
b)
			 Local governments shall provide, upon the Department's request, documents and
			 information relevant to any applications, requests, and funds received pursuant
			 to the Local CURE Program. The Department and/or its agents may make site
			 visits as warranted.
c) The
			 Department reserves the right to seek a refund from the local government if it
			 finds the local government made a false or fraudulent claim for funds or the
			 funds were spent on ineligible expenses. The Department also may seek a refund
			 from a local government if the federal government, the Department, or other
			 State agency finds that the local government did not properly spend the funds,
			 was reimbursed for ineligible costs under Sections
			 700.50
			 and
			 700.60,
			 or received reimbursement under the Local CURE Program of costs that were
			 reimbursed through another federal or State program.
d) Units of local government that request or
			 receive funds under the Local CURE program shall maintain, for five years from
			 the date of submission of the final request for reimbursement, adequate books,
			 all financial records and supporting documents, statistical records, and all
			 other records pertinent to the Local CURE Program. If any litigation, claim or
			 audit is started before the expiration of the retention period, the records
			 must be retained until all litigation, claims or audit exceptions involving the
			 records have been resolved and final action taken. Business participants in the
			 Economic Support Payments Grants Program shall maintain all records related to
			 the Local CURE Program until at least March 31, 2026, unless a longer retention
			 period is set forth in any financial assistance agreement or certification, or
			 until after the conclusion of all litigation, claims or audit exceptions
			 involving the records have been resolved and final action taken, whichever is
			 latest.
Illinois Administrative Code › Title 14 - COMMERCE › Part 900 - PROGRAMS › Subpart A - INTRODUCTION › Section 900.10 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
As used in this Part, the following words or terms
				  mean:
a) "Act": The Illinois Export
				Development Act of 1983, Ill. Rev. Stat. 1985 ch. 127, pars. 2501 et seq., as
				now or hereafter amended.
b)
				"Authority": The Illinois Export Development Authority.
c) "banking organization": Any organization
				defined in Section 2 of the Illinois Banking Act., 1985 Ill. Rev. Stat., ch.
				17, par. 302, any agency or branch of a foreign banking corporation licensed by
				the Illinois Commissioner of Banks and Trust Companies, any national bank,
				federal savings and loan association, or any federal credit union located
				within the State.
d) "Board of
				Directors", or "Board": The Board of Directors of the Authority.
e) "commitment": A writing issued by the
				Authority to a financial intermediary approving an application for a guaranteed
				participating loan and committing the Authority to make such guaranteed
				participating loan to the financial intermediary.
f) "comprehensive export credit insurance":
				An insurance policy obtained by the Authority providing insurance to an
				eligible exporter for an eligible export transaction insuring against political
				and commercial risks of loss as defined in Section 2.1 of the Act.
g) "contract of sale": A writing or group of
				writings setting forth an agreement between an eligible exporter and a buyer
				regarding the purchase and sale of one or more eligible exports.
h) "director": A member of the Board of
				Directors of the Authority.
i)
				"eligible export": Goods sold or services rendered pursuant to a contract of
				sale for delivery or performance outside the United States and its possessions
				or territories, where:
1) the final
				manufacturing of the goods, or final performance of the services, occurs in
				Illinois; and
2) at least
				twenty-five percent (25%) of the total value of the goods sold, or services
				rendered, exclusive of price markup thereof, has been added by labor or
				materials exclusively in Illinois; and
3) the making of the guaranteed participating
				loan in connection with such contract of sale will create or maintain
				employment within the State of Illinois. Such eligible exports may include,
				without limitation, semi-finished materials, components, spare parts, and other
				goods which will be subject to further manufacturing or incorporation into a
				finished product outside of the United States, its possessions and
				territories.
Illinois Administrative Code › Title 14 - COMMERCE › Part 900 - PROGRAMS › Subpart B - PROGRAMS › Section 900.100 - General

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority will offer to participating banks two programs
				  of guaranteed participating loans. The first program will be offered to support
				  pre-shipment on-loans, and the second to support post-shipment on-loans. All
				  on-loans shall be secured by a policy or policies of comprehensive export
				  credit insurance, the proceeds of which shall have been assigned by the
				  eligible exporter to the financial intermediary, and by the financial
				  intermediary to the Authority, all on a form or forms the substance and content
				  of which have been agreed to by the Authority and the insurer. Additionally,
				  all guaranteed participating loans shall be collateralized as set forth in
				  Section
				  900.115(k)
				  of this Part, and further secured by an assignment of a general comprehensive
				  fire, casualty, theft and cargo insurance policy or policies insuring the
				  eligible exporter for the full amount of the eligible export, and such other
				  insurance as the Authority deems shall be necessary based upon the type of
				  goods or services being exported, the mode of transportation, and the country
				  of their destination.
Illinois Administrative Code › Title 14 - COMMERCE › Part 900 - PROGRAMS › Subpart B - PROGRAMS › Section 900.110 - Purpose of Guaranteed Participating Loans

Current through Register Vol. 48, No. 28, July 12, 2024
Guaranteed Participating Loans made to financial
				  intermediaries shall be solely for the purpose of supporting on-loans to
				  eligible exporters to finance either pre-exports or eligible exports. At any
				  one time, each eligible exporter may only have a maximum of $500,000, in the
				  aggregate, of outstanding on-loans or commitments for on-loans. The maximum
				  on-loans, or commitments for on-loans, for each eligible exporter shall be
				  measured by the principal amount of all outstanding on-loans, and all unexpired
				  on-loan commitments for the eligible exporter as of the date the application
				  for a guaranteed participating loan is received by the Authority. A guaranteed
				  participating loan shall be available only where the financial intermediary
				  demonstrates that it is necessary to stimulate or facilitate the making of an
				  on-loan at terms that are reasonably competitive with similar loans available
				  in other states or countries, and where the granting of such guaranteed
				  participating loan would be in accordance with the Act and this
				  Part.
Illinois Administrative Code › Title 14 - COMMERCE › Part 900 - PROGRAMS › Subpart B - PROGRAMS › Section 900.115 - Requirements of Guaranteed Participating Loans

Current through Register Vol. 48, No. 28, July 12, 2024
Guaranteed participating loans, or commitments for guaranteed
				  participating loans, shall be make by the Authority when:
a) The participating bank has committed to
				make an on-loan to an eligible exporter, or has made an on-loan to an eligible
				exporter, in an amount which does not exceed 90% of the total value of the
				pre-export or eligible export, and which on-loan shall be equal to or greater
				than 111.1111 % of the guaranteed participating loan;
b) The eligible exporter, as part of its
				application for the on-loan to be supported by the guaranteed participating
				loan, or for the comprehensive export credit insurance, has certified that the
				purpose of the on-loan is to finance an eligible export or pre-export, and that
				the goods or services to be so financed are eligible exports or pre-exports, as
				defined in this Part.
c)
				Certificates of insurance, under policies of comprehensive export credit
				insurance, of fire, casualty, theft and cargo loss, and of other coverages
				required hereunder, have been issued to the eligible exporter, and 100% of the
				right, title and interest in and to the proceeds of such insurance policies
				have been assigned to the Authority and the financial intermediary, as their
				interests may appear;
d) The
				Authority has determined:
1) that the making
				of the guaranteed participating loan will create or maintain employment in
				Illinois; and
2) the financial
				intermediary will use 100% of the proceeds of the guaranteed participating loan
				to support an on-loan which will be used exclusively to finance eligible
				exports or pre-exports;
Illinois Administrative Code › Title 14 - COMMERCE › Part 900 - PROGRAMS › Subpart B - PROGRAMS › Section 900.118 - Terms of Guaranteed Participating Loans

Current through Register Vol. 48, No. 28, July 12, 2024
All guaranteed participating loans shall:
a) Have a repayment term of 24 months or
				less, including any extensions or renewals thereof;
b) Set forth the number and timing of
				principal and interest installments;
c) Bear interest at the rate stated by the
				Authority in its commitment, which rate may fluctuate during the life of the
				commitment, as set forth therein, but which rate shall in no event be less than
				a rate equal to the net borrowing rate of the Authority;
d) Have a principal amount which is equal to
				or less than 81% of the total value of the pre-export or the eligible
				export;
e) Contain an affirmative
				covenant that the on-loan to be supported by the guaranteed participating loan
				is collateralized as set forth in Section
				900.140 of this
				Part;
f) Contain an affirmative
				covenant that the eligible exporter's financial risk in the pre-export or
				eligible export is at least 10% of the total value of the pre-export or
				eligible export;
g) Contain an
				affirmative covenant that, within three (3) business days of receipt by the
				financial intermediary from the eligible exporter of collected funds
				constituting any payment of the eligible exporter's obligations to the
				financial intermediary pursuant to an on-loan, the financial intermediary will
				pay to the Authority an amount equal to
1)
				the amount of collected funds so received, times
2) an amount equal to the initial principal
				of the guaranteed participating loan divided by the initial principal of the
				on-loan;
Illinois Administrative Code › Title 14 - COMMERCE › Part 900 - PROGRAMS › Subpart B - PROGRAMS › Section 900.119 - Fees

Current through Register Vol. 48, No. 28, July 12, 2024
a) In granting an
				on-loan, the financial intermediary may charge the eligible exporter a loan
				origination fee of up to the equivalent of 1% per annum of the principal amount
				of the on-loan. This fee shall be paid prior to, or concurrent with, the
				disbursement of the proceeds of the guaranteed participating loan.
b) The Authority shall charge the financial
				intermediary a commitment fee of 
				1/10 of 1% of the
				amount of the guaranteed participating loan. The commitment fee shall be
				payable on or before the 5th business day after the
				date of the commitment. The commitment will be valid and enforceable against
				the Authority only for a period of no more than 30 calendar days after the date
				of the commitment.
c) The Authority
				shall charge the financial intermediary a guarantee fee in an amount equal to
				the cost of any policy or policies of comprehensive export credit insurance
				applicable to the transaction, plus any administrative or other costs of the
				Authority applicable to the transaction. The guarantee fee shall be paid either
				prior to, or concurrent with, the disbursement of the guaranteed participating
				loan.
d) If the Authority requires
				any legal services with respect to a guaranteed participating loan, the
				financial intermediary shall pay all fees and costs connected
				therewith.
Illinois Administrative Code › Title 14 - COMMERCE › Part 900 - PROGRAMS › Subpart B - PROGRAMS › Section 900.120 - Applications for Guaranteed Participating Loans

Current through Register Vol. 48, No. 28, July 12, 2024
a) Applications for on-loans shall be made by
				the eligible exporter to the participating bank. Each application for a
				guaranteed participating loan shall be accompanied by the participating bank's
				binding agreement to make the on-loan subject only to the granting by the
				Authority of the guaranteed participating loan, and all supporting documents
				used by the participating bank to determine that the granting of such on-loan
				would be consistent with the Act and this Part.
b) An application for a guaranteed
				participating loan shall be filed with the Authority by a participating bank on
				such forms as the Authority shall provide.
c) Staff shall review all applications for
				guaranteed participating loans to determine
1)
				whether the location of the buyer identified in the contract of sale complies
				with the country limitations, if any, contained in the applicable policy or
				policies of comprehensive export credit insurance;
2) whether the participating bank's on-loan
				will meet all of the underwriting requirements imposed by the Authority's
				insurers; and
3) whether the
				on-loan complies with all of the requirements of the Act and this Part. Before
				any guaranteed participating loan may be granted, each eligible exporter must
				have submitted to the Authority a complete application for comprehensive export
				credit insurance, and both the eligible exporter and its buyer under the
				contract of sale must have been approved by the insurer.