Bill Text: IL HB1321 | 2025-2026 | 104th General Assembly | Introduced

---

Bill Title: Amends the Property Tax Code. Provides that no taxing district may hold more than 150% of the previous levy year's property tax collections in cash or cash-equivalent assets. Provides that excess amounts shall be refunded to taxpayers. Effective immediately.

Sponsorship: Partisan Bill (Republican 3)

Status: (Introduced) 2026-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB1321 Detail]

Download: Illinois-2025-HB1321-Introduced.html

---

104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1321 Introduced , by Rep. Dan Ugaste SYNOPSIS AS INTRODUCED:
35 ILCS 200/30-32 new
Amends the Property Tax Code. Provides that no taxing district may hold more than 150% of the previous levy year's property tax collections in cash or cash-equivalent assets. Provides that excess amounts shall be refunded to taxpayers. Effective immediately.
LRB104 03217 HLH 13238 b
A BILL FOR
HB1321 LRB104 03217 HLH 13238 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 Property Tax Code is amended by adding
Section 30-32 as follows:
(35 ILCS 200/30-32 new)
Sec. 30-32. Limit on surplus funds. No taxing district may
hold more than 150% of the previous levy year's property tax
collections in cash or cash-equivalent assets. If, at the end
of any fiscal quarter, the taxing district has more than that
amount in cash or cash-equivalent assets, then the excess
amount shall be refunded to taxpayers pro rata based on each
taxpayer's percentage of the total levy for the previous year.
Section 99. Effective date. This Act takes effect upon
becoming law.