IL HB5044

Requires all financial reports filed with the State Comptroller by governmental units, counties, and municipalities to be submitted electronically, with the Comptroller posting them online within 45 days of receipt.

Allows the Comptroller to waive the electronic filing requirement if a governmental unit provides sufficient evidence that electronic filing is not feasible.

Establishes a tiered late fee schedule for delinquent audit reports: $5 per day for the first 15 days past due, $10 per day for days 16-30, $15 per day for days 31-45, and $20 per day for day 46 and beyond.

Requires the Comptroller to post a list of municipalities and counties that are not in compliance with reporting requirements.

Removes population-based restrictions on which counties must file financial reports, requiring all counties to file with the Comptroller.