IL HB5460

Creates a new offense of theft of public funds under Illinois Criminal Code Section 16-1.4, applying to embezzlement, stealing, fraud, or unauthorized conversion of public property belonging to the State, local governments, or school districts.

Establishes tiered felony penalties based on property value: Class 4 felony for property not exceeding $300; Class 2 felony for $300 to $10,000; Class 1 felony for $10,000 to $100,000; and Class X felony for property exceeding $100,000.

Defines value as face value, par value, market value, or cost price (wholesale or retail), whichever is greater.

Covers both direct theft and receiving, concealing, or retaining stolen public property with intent to convert it to personal use.

Amends Section 33E-16 to expand the misapplication of funds statute to include local government and school district officials, and broadens language to cover embezzlement, theft, fraud, and intentional misapplication of property under their care, custody, or control.