$UPPER IL RIVER VALLEY-TECH
In terms of state law impact, HB2028 establishes a precedent for allocating state funds to specific development initiatives. While the allocated amount may appear nominal, it reflects a legislative intent to recognize the importance of development authorities in promoting regional economic growth and infrastructure support. By designating funds to the Upper Illinois River Valley Development Authority, the bill facilitates continuity in the operational capacity of the authority, which can play a crucial role in local economic development efforts.
House Bill 2028, introduced by Representative Tony M. McCombie, serves as an appropriations measure that allocates $2 to the Upper Illinois River Valley Development Authority from the General Revenue Fund for its ordinary and contingent expenses during the fiscal year 2024. The bill's primary objective is to support the ongoing operations of this development authority, ensuring that it has the necessary funds to meet its operational needs in the upcoming fiscal period. The bill is set to take effect on July 1, 2023.
Despite its straightforward nature, HB2028 may spark discussions concerning the general efficacy of appropriations and the prioritization of funding within the Illinois legislature. Some lawmakers might question the wisdom of allocating state resources to a development authority, particularly in a fiscal climate where budget constraints are prevalent. As such, while there are no overt points of contention outlined within the text, discussions around the appropriateness and efficacy of such an allocation may arise as the bill progresses through the legislative process.