Bill Text: IL HB0501 | 2017-2018 | 100th General Assembly | Introduced


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.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced) 2017-03-31 - Rule 19(a) / Re-referred to Rules Committee [HB0501 Detail]

Download: Illinois-2017-HB0501-Introduced.html


100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB0501

Introduced , by Rep. Allen Skillicorn

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.
LRB100 07371 AWJ 17435 b
FISCAL NOTE ACT MAY APPLY

A BILL FOR

HB0501LRB100 07371 AWJ 17435 b
1 AN ACT concerning local government.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Illinois Municipal Code is amended by adding
5Section 8-1-19 as follows:
6 (65 ILCS 5/8-1-19 new)
7 Sec. 8-1-19. Bankruptcy; petitions. Any municipality may
8file a petition and exercise powers pursuant to applicable
9federal bankruptcy law.
10 Section 99. Effective date. This Act takes effect upon
11becoming law.
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