The Metropolitan Pier and Exposition Authority shall also have the following rights and powers:
No later than May 15 of each year, the Chief Executive Officer of the Metropolitan Pier and Exposition Authority shall certify to the State Comptroller and the State Treasurer the amounts of incentive grant funds used, including incentive grant funds used for future events under the provisions of this Section, during the current fiscal year to provide incentives for conventions, meetings, or trade shows that:
On July 15, 2012, the Comptroller shall order transferred, and the Treasurer shall transfer, into the Metropolitan Pier and Exposition Authority Incentive Fund from the General Revenue Fund the sum of $7,500,000 plus an amount equal to the incentive grant funds certified by the Chief Executive Officer as having been lawfully paid under the provisions of this Section in the previous 2 fiscal years that have not otherwise been transferred into the Metropolitan Pier and Exposition Authority Incentive Fund, provided that transfers in excess of $15,000,000 shall not be made in any fiscal year.
On July 15, 2013, the Comptroller shall order transferred, and the Treasurer shall transfer, into the Metropolitan Pier and Exposition Authority Incentive Fund from the General Revenue Fund the sum of $7,500,000 plus an amount equal to the incentive grant funds certified by the Chief Executive Officer as having been lawfully paid under the provisions of this Section in the previous fiscal year that have not otherwise been transferred into the Metropolitan Pier and Exposition Authority Incentive Fund, provided that transfers in excess of $15,000,000 shall not be made in any fiscal year.
On July 15, 2014, and every year thereafter, the Comptroller shall order transferred, and the Treasurer shall transfer, into the Metropolitan Pier and Exposition Authority Incentive Fund from the General Revenue Fund an amount equal to the incentive grant funds certified by the Chief Executive Officer as (i) having been lawfully paid under the provisions of this Section in the previous fiscal year or incurred by the Authority for a future event under the provisions of this Section and (ii) not otherwise having been transferred into the Metropolitan Pier and Exposition Authority Incentive Fund, provided that (1) no transfers with respect to any previous fiscal year shall be made after the transfer has been made with respect to the 2017 fiscal year until the transfer that is made for the 2022 fiscal year and thereafter, and no transfers with respect to any previous fiscal year shall be made after the transfer has been made with respect to the 2026 fiscal year, and (2) transfers in excess of $15,000,000 shall not be made in any fiscal year.
After a transfer has been made under this subsection (l), the Chief Executive Officer shall file a request for payment with the Comptroller evidencing that the incentive grants have been made and the Comptroller shall thereafter order paid, and the Treasurer shall pay, the requested amounts to the Metropolitan Pier and Exposition Authority. Excluding any amounts related to the payment of costs associated with the mitigation of COVID-19 in accordance with this subsection (l), in no case shall more than $5,000,000 be used in any one year by the Authority for incentives granted to conventions, meetings, or trade shows with a registered attendance (or projected attendance for future events) of (1) more than 5,000 and less than 10,000 prior to the 2022 fiscal year and after the 2024 fiscal year and (2) more than 3,000 and less than 5,000 for fiscal years 2022 through 2024. Amounts in the Metropolitan Pier and Exposition Authority Incentive Fund shall only be used by the Authority for incentives paid to attract or retain conventions, meetings, and trade shows as provided in this subsection (l).
"Future event" means a convention, meeting, or trade show that executed an agreement during the fiscal year to use the facilities of the Authority after fiscal year 2026; provided that the agreement is entered into with the Authority or with an organization that meets the qualifications set out in Section 5.6 of this Act and that has entered into a marketing agreement with the Authority.
No later than May 15 of each year, the Mayor of the Village of Rosemont or his or her designee shall certify to the State Comptroller and the State Treasurer the amounts of incentive grant funds used during the previous fiscal year to provide incentives for conventions, meetings, or trade shows that (1) have been approved by the Village, (2) demonstrate registered attendance in excess of 5,000 individuals, and (3) but for the incentive, would not have used the Donald E. Stephens Convention Center facilities for the convention, meeting, or trade show. The State Comptroller may request that the Auditor General conduct an audit of the accuracy of the certification.
If the State Comptroller determines by this process of certification that incentive funds, in whole or in part, were disbursed by the Village by means other than in accordance with the standards of this subsection (l-5), then the amount transferred to the Convention Center Support Fund shall be reduced during the next subsequent transfer in direct proportion to that amount determined to be in violation of the terms set forth in this subsection (l-5).
On July 15, 2012, and each year thereafter, the Comptroller shall order transferred, and the Treasurer shall transfer, into the Convention Center Support Fund from the General Revenue Fund the amount of $5,000,000 for (i) incentives to attract large conventions, meetings, and trade shows to the Donald E. Stephens Convention Center, and (ii) to be used by the Village of Rosemont for the repair, maintenance, and improvement of the Donald E. Stephens Convention Center and for debt service on debt instruments issued for those purposes by the village. No later than 30 days after the transfer, the Comptroller shall order paid, and the Treasurer shall pay, to the Village of Rosemont the amounts transferred.
For Fiscal Year 2023 only, the Department of Commerce and Economic Opportunity shall enter into the grant agreements described in this subsection in place of the Authority. The grant agreements entered into by the Department and the Bureau under this subsection are not subject to the matching funds requirements or the other terms and conditions of Section 605-705 of the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Subject to appropriation, funds transferred into the Chicago Travel Industry Promotion Fund pursuant to subsection (f) of Section 6z-121 of the State Finance Act shall be granted to the Bureau for the purposes described in this subsection. The Department shall have authority to make expenditures from the Chicago Travel Industry Promotion Fund solely for the purpose of providing grants to the Bureau.
70 ILCS 210/5