IL HB5145

County treasurers may establish an escrow fund with county board approval to hold moneys paid by or on behalf of property taxpayers for safekeeping until the next year's property taxes are due.

Funds held in these escrow accounts are designated as "Class D" funds and are protected from judgment, attachment, execution, and seizure for debt satisfaction.

County treasurers have authority to establish terms and conditions governing the escrow funds.

Interest earned on escrow funds must be paid to the county treasury's corporate fund to offset administrative costs of managing the fund.

The Code of Civil Procedure is amended to explicitly exempt qualified moneys in county treasurer escrow accounts from judgment, attachment, execution, and seizure for debt satisfaction.