HB2950 Summary

• Creates new offense of "theft of public funds" applicable to embezzlement, theft, or fraudulent conversion of state, local government, or school district property, records, money, or vouchers.

• Establishes tiered felony penalties based on property value: Class 4 felony for amounts not exceeding $300; Class 2 felony for $300-$10,000; Class 1 felony for $10,000-$100,000; Class X felony for $100,000-$500,000; and Class 1 non-probationable felony for amounts exceeding $500,000.

• Amends misapplication of funds statute to explicitly include embezzlement, theft, fraud, or unauthorized conversion of public property by state/local government officers, directors, agents, or employees, maintaining Class 3 felony penalty.

• Adds theft of public funds exceeding $500,000 to list of offenses ineligible for probation under the Unified Code of Corrections.