LOCAL ACCUMULATION OF FUNDS House SponsorsRep. Brad Halbrook Senate Sponsors(Sen. Steven M. Landek) 1/10/2023HouseSession Sine Die New Act60 ILCS 1/85-65 rep. 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. 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 1/10/2023HouseSession Sine Die