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IL HB5241

Bill

Official Source

Status

Introduced

2/5/2026

Primary Sponsor

Anthony DeLuca

Click for details

Origin

House of Representatives

104th General Assembly

AI Summary

  • Amends the Counties Code to add Section 5-1195 requiring Cook County to reimburse taxing districts when property tax distributions are delayed
  • Cook County must pay taxing districts for interest they would have earned by holding property tax proceeds in reserves
  • Cook County must also reimburse taxing districts for interest paid on debts incurred due to the delayed distributions
  • Preempts home rule authority, prohibiting local governments from regulating property tax distributions in a manner inconsistent with this requirement

Legislative Description

COOK CTY-LOC GOV PAYMENTS

Last Action

To Tax Policy: Other Taxes Subcommittee

2/26/2026

Committee Referrals

Tax Policy: Other Taxes2/26/2026
Revenue & Finance2/24/2026
Rules2/10/2026

Full Bill Text

No bill text available