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92_HB0814
LRB9204367MWks
1 AN ACT in relation to units of local government.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 1. Short title. This Act may be cited as the
5 Chapter 9 Authorization Act.
6 Section 5. Purpose. The Congress of the United States
7 has enacted certain laws enabling financially distressed
8 persons to seek and obtain certain relief as set forth in
9 Title 11 of the United States Code. This relief includes
10 certain relief for units of local government and school
11 districts generally set forth under Chapter 9 of that Title
12 11. It is the public policy of this State to provide for the
13 public health, safety, and welfare, and to provide assistance
14 to units of local government and school districts in the
15 formulation and implementation of proper financial accounting
16 procedures, budgeting, and taxing practices. It is the
17 public policy of this State to support the reorganization of
18 the financial affairs of a unit of local government or a
19 school district of this State under the protection and
20 procedures set forth in Chapter 9 of Title 11 of the United
21 States Code.
22 Section 10. Authorization. Any unit of local government
23 or school district organized under the laws of this State
24 may, on behalf of itself, institute any appropriate action
25 authorized by any act of the Congress of the United States
26 relating to bankruptcy. Any unit of local government or
27 school district may be a debtor under Chapter 9 of Title 11
28 of the United States Code.
29 Section 99. Effective date. This Act takes effect upon
-2- LRB9204367MWks
1 becoming law.