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IL HB3135

Bill

Official Source

Status

Introduced

2/15/2019

Primary Sponsor

Brad Halbrook

Click for details

Origin

House of Representatives

101st General Assembly

AI Summary

  • Creates the Local Accumulation of Funds Act to limit how much money local government units can accumulate
  • Restricts a unit of local government's funds (excluding capital funds) to no more than 2.5 times the annual average expenditure from the previous 3 fiscal years
  • Defines "capital fund" as a fund established by a township or other local government unit dedicated to capital improvements as part of the annual budget, which is exempt from the accumulation limit
  • Repeals Section 85-65 of the Township Code (60 ILCS 1/85-65)
  • Takes effect immediately upon becoming law

Legislative Description

LOCAL ACCUMULATION OF FUNDS

Last Action

Rule 19(a) / Re-referred to Rules Committee

3/29/2019

Committee Referrals

Rules3/29/2019
Cities & Villages3/5/2019
Rules2/15/2019

Full Bill Text

No bill text available