Bill Title: Creates the Local Accumulation of Funds Act. Provides that a unit of local government's funds, excluding the capital fund, shall not exceed an amount equal to or greater than 2.5 times the annual average expenditure of the previous 3 fiscal years of the unit of local government. Defines "capital fund" as a capital fund of a township or a similar fund of another unit of local government established to dedicate funds toward capital improvement as a part of the unit of local government's annual budget. Amends the Township Code repealing a Section about accumulation of funds. Effective immediately.

Sponsorship: Bipartisan Bill

Status: (Engrossed - Dead) 2021-04-19 - Referred to Assignments [HB2807 Detail]

Text: Latest bill text (Engrossed) [HTML]

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