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Sen. Patrick J. Joyce
Filed: 3/23/2023
| | 10300SB0685sam001 | | LRB103 03138 AWJ 59115 a |
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| 1 | | AMENDMENT TO SENATE BILL 685
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 685 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The Township Code is amended by changing |
| 5 | | Section 85-65 as follows:
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| 6 | | (60 ILCS 1/85-65) |
| 7 | | Sec. 85-65. Accumulation of funds. Township funds, |
| 8 | | including, but not limited to, general assistance funds and |
| 9 | | excluding the township's capital fund, shall not exceed an |
| 10 | | amount equal to or greater than 2.5 times the annual average |
| 11 | | expenditure of the previous 3 fiscal years. Townships on a |
| 12 | | cash basis or modified cash basis of accounting may only count |
| 13 | | levied tax funds toward the total township funds calculated |
| 14 | | under this Section if received within the township's fiscal |
| 15 | | year. The highway commissioner's equipment and building fund |
| 16 | | is considered a capital fund account and is not subject to this |