Creates the Community College Economic Empowerment Act. Requires the Illinois Community College Board to provide an additional $1,000,000 per year in funding to community college districts whose primary campus is located within an enterprise zone, a HUBZone, or 2 miles of an opportunity zone; defines these zones. Establishes qualifications for funding. Requires each community college district that receives additional funds to submit an annual report to the Board. Requires the Board to submit a compiled annual report to the General Assembly. Provides that implementation of the Act is subject to appropriation. Contains a severability clause. Effective immediately.