Bill Text: IL HB0298 | 2015-2016 | 99th General Assembly | Introduced

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Bill Title: Amends the Illinois Municipal Code. In provisions concerning finance, provides that a municipality may file a petition and exercise powers pursuant to applicable federal bankruptcy law. Effective immediately.

Sponsorship: Partisan Bill (Republican 2)

Status: (Introduced - Dead) 2015-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB0298 Detail]

Download: Illinois-2015-HB0298-Introduced.html

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99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 HB0298 Introduced , by Rep. Ron Sandack SYNOPSIS AS INTRODUCED:
65 ILCS 5/8-1-19 new
Amends the Illinois Municipal Code. In provisions concerning finance, provides that a municipality may file a petition and exercise powers pursuant to applicable federal bankruptcy law. Effective immediately.
LRB099 06384 AWJ 26454 b
A BILL FOR
HB0298 LRB099 06384 AWJ 26454 b
AN ACT concerning local government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Municipal Code is amended by adding
Section 8-1-19 as follows:
(65 ILCS 5/8-1-19 new)
Sec. 8-1-19. Bankruptcy; petitions. Any municipality may
file a petition and exercise powers pursuant to applicable
federal bankruptcy law.
Section 99. Effective date. This Act takes effect upon
becoming law.