IL SB0087

Amends the Counties Code to change the cap on county capital improvement funds from 5% of the general corporate or operating fund to 3% of the equalized assessed value of property subject to taxation by the county.

Allows counties to accumulate funds in a separate Capital Improvement, Repair, or Replacement Fund for capital improvements, repairs, or replacements to real property or equipment.

Requires unspent moneys from completed or abandoned capital projects to be transferred back to the county's general corporate or operating fund.

Requires surplus moneys in the Capital Improvement Fund that are not needed for any planned capital project to be transferred to the general corporate or operating fund on the first day of the fiscal year following the year in which the surplus is determined.