IL HB2686

Makes distributions from the State and Local Sales Tax Reform Fund and the Local Government Distributive Fund an "irrevocable and continuing appropriation," removing the requirement for annual legislative appropriation

Removes language requiring distributions to municipalities (including the 20% to cities with 1,000,000+ inhabitants for affordable housing) and to the Madison County Mass Transit District to be "subject to appropriation"

Authorizes the State Treasurer and State Comptroller to make distributions directly as provided in the amended statutes without waiting for appropriation bills

Affects revenue sharing payments to local governments derived from state income tax collections and sales tax reform funds

Takes effect immediately upon becoming law