Illinois General Assembly - Bill Status for HB2807
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 Bill Status of HB2807  102nd General Assembly


Short Description:  LOCAL ACCUMULATION OF FUNDS

House Sponsors
Rep. Brad Halbrook

Senate Sponsors
(Sen. Steven M. Landek)

Last Action
DateChamber Action
  4/19/2021SenateReferred to Assignments

Statutes Amended In Order of Appearance
New Act
60 ILCS 1/85-65 rep.


Synopsis As Introduced
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.

Actions 
DateChamber Action
  2/18/2021HouseFiled with the Clerk by Rep. Brad Halbrook
  2/19/2021HouseFirst Reading
  2/19/2021HouseReferred to Rules Committee
  3/9/2021HouseAssigned to Cities & Villages Committee
  3/16/2021HouseDo Pass / Short Debate Cities & Villages Committee; 010-000-000
  3/18/2021HousePlaced on Calendar 2nd Reading - Short Debate
  4/13/2021HouseSecond Reading - Short Debate
  4/13/2021HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/15/2021HouseThird Reading - Short Debate - Passed 112-000-000
  4/19/2021SenateArrive in Senate
  4/19/2021SenatePlaced on Calendar Order of First Reading
  4/19/2021SenateChief Senate Sponsor Sen. Steven M. Landek
  4/19/2021SenateFirst Reading
  4/19/2021SenateReferred to Assignments

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