IL HB2691

Creates new crime of "theft of public funds" (Section 16-1.4) covering embezzlement, theft, fraud, or unauthorized conversion of records, vouchers, money, or property belonging to the State of Illinois, its agencies, units of local government, or school districts.

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

Includes receiving, concealing, or retaining stolen public funds with intent to convert them as a criminal act under the new statute.

Modifies existing "misapplication of funds" statute (Section 33E-16) to clarify it applies to officers, directors, agents, or employees affiliated with state agencies, local governments, or school districts who embezzle or misappropriate property under their care or control.

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