2021-2022 Regular Session • Illinois Legislature
HB2807: LOCAL ACCUMULATION OF FUNDS
Legislative Summary
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.
Bill History
2/18/2021
Filed with the Clerk by Rep. Brad Halbrook
House of Representatives
2/19/2021
First Reading
House of Representatives
2/19/2021
Referred to Rules Committee
House of Representatives
3/9/2021
Assigned to Cities & Villages Committee
House of Representatives
3/16/2021
Do Pass / Short Debate Cities & Villages Committee; 010-000-000
House of Representatives
3/18/2021
Placed on Calendar 2nd Reading - Short Debate
House of Representatives
4/13/2021
Second Reading - Short Debate
House of Representatives
4/13/2021
Placed on Calendar Order of 3rd Reading - Short Debate
House of Representatives
4/15/2021
Third Reading - Short Debate - Passed 112-000-000
House of Representatives
4/19/2021
Arrive in Senate
Senate
4/19/2021
Placed on Calendar Order of First Reading
Senate
4/19/2021
Chief Senate Sponsor Sen. Steven M. Landek
Senate
4/19/2021
First Reading
Senate
4/19/2021
Referred to Assignments
Senate
Roll Call Votes
Third Reading in House
4/15/2021
112
Yea
2
Nay
1
Not Voting
1
Absent
Result: PASSED
Status Information
Current Status
Engrossed(4/15/2021)
Chamber
Senate
Committee
Assignments(Senate)
