Ill. Admin. Code tit. 47 § 380.201

Current through Register Vol. 48, No. 50, December 13, 2024

Section 380.201 - Distribution of Annual Receipts

The Authority shall distribute funds from Annual Receipts in accordance with the following priorities:

a) To the Authority for its administrative fee.

b) To Municipalities.

1) Each Municipality must use at least 10% of its Fund Distribution for an LTOS Program.

2) Each Municipality shall distribute the balance of its Fund Distribution to its Reserve Fund and one or more designated non-profit organizations that meet the requirements for an LAA and that will serve as an LAA for the Municipality.

c) To fund the Authority's Reserve Fund, as provided in Section 380.205.

d) After distributing the amounts listed in subsections (a), (b) and (c), the Authority shall use at least 10% of the remaining amount of the Annual Receipts for an LTOS Program, which the Authority shall allocate through a competitive Application process, as described in Subpart F, for Projects to be located outside the Municipalities.

e) The balance of the Annual Receipts shall be distributed to Suburban Areas, Small Metropolitan Areas and Rural Areas.

Ill. Admin. Code tit. 47, § 380.201

Amended at 46 Ill. Reg. 12608, effective 7/7/2022