Illinois General Assembly - Full Text of HB5241

LRB104 18096 RTM 31535 b

104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB5241

Introduced 2/10/2026, by Rep. Anthony DeLuca

SYNOPSIS AS INTRODUCED:

55 ILCS 5/5-1195 new

Amends the Counties Code. Provides that, if Cook County is delinquent in distributing property tax proceeds to taxing districts the proceeds of property taxes imposed by the taxing districts that Cook County is required to collect from taxpayers and distribute to the taxing districts, then Cook County shall reimburse the taxing districts for (i) the interest that the taxing districts would have earned from keeping the proceeds of property taxes in reserves and (ii) the interest that taxing districts paid on debts incurred because Cook County is delinquent in distributing property tax proceeds to taxing districts.

A BILL FOR

AN ACT concerning local government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Counties Code is amended by adding Section 5-1195 as follows:

(55 ILCS 5/5-1195 new)

Sec. 5-1195. Late property tax distribution in Cook County.

(a) If Cook County is delinquent in distributing property tax proceeds to taxing districts, as defined in Section 1-150 of the Property Tax Code, the proceeds of property taxes imposed by the taxing districts that Cook County is required to collect from taxpayers and distribute to the taxing districts, then Cook County shall reimburse the taxing districts for (i) the interest that the taxing districts would have earned from keeping the proceeds of property taxes in reserves and (ii) the interest that taxing districts paid on debts incurred because Cook County is delinquent in distributing property tax proceeds to taxing districts.

(b) A home rule unit may not regulate the distribution of moneys in a manner inconsistent with this Section. This Section is a limitation under subsection (i) of Section 6 of Article VII of the Illinois Constitution on the concurrent exercise by home rule units of powers and functions exercised by the State.