Bill Text: IL SB0685 | 2023-2024 | 103rd General Assembly | Chaptered

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Bill Title: Amends the Township Code. In provisions about accumulation of township funds, provides that townships on a cash basis or modified cash basis of accounting may only count levied tax funds toward the total township funds calculated under the provisions if received within the township's fiscal year. Provides that the highway commissioner's equipment and building fund is considered a capital fund account and is not subject to the accumulation of funds provisions.

Spectrum: Moderate Partisan Bill (Democrat 5-1)

Status: (Passed) 2023-06-09 - Public Act . . . . . . . . . 103-0072 [SB0685 Detail]

Download: Illinois-2023-SB0685-Chaptered.html

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Public Act 103-0072
SB0685 Enrolled LRB103 03138 AWJ 48144 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 Township Code is amended by changing
Section 85-65 as follows:
(60 ILCS 1/85-65)
Sec. 85-65. Accumulation of funds. Township funds,
including, but not limited to, general assistance funds and
excluding the township's 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. Townships on a
cash basis or modified cash basis of accounting may only count
levied tax funds toward the total township funds calculated
under this Section if received within the township's fiscal
year. The highway commissioner's equipment and building fund
is considered a capital fund account and is not subject to this
Section.
(Source: P.A. 102-231, eff. 7-30-21.)