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]

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Bill Drafts

Revision	Date	Format	Source	View
Engrossed	2021-04-13	HTML/Text	Link	View
Introduced	2021-02-18	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB2807

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB2807 currently on file.