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IL SB0685
Bill
AI Summary
- Amends Section 85-65 of the Township Code to modify township fund accumulation limits, which cannot exceed 2.5 times the annual average expenditure of the previous 3 fiscal years
- Excludes the township's capital fund and the highway commissioner's equipment and building fund from the accumulation limit calculation
- Requires townships using cash basis or modified cash basis accounting to only count levied tax funds received within the township's fiscal year toward the total funds calculation
- Applies to all township funds including general assistance funds, with the specified exceptions
Legislative Description
LOCAL GOVERNMENT-TECH
Last Action
Public Act . . . . . . . . . 103-0072
6/9/2023
Committee Referrals
Counties & Townships4/11/2023
Rules4/11/2023
Local Government3/28/2023
Assignments3/23/2023
Executive3/2/2023
Assignments2/2/2023
Full Bill Text
No bill text available