|
| | 98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
SB1365 Introduced 2/5/2013, by Sen. Kimberly A. Lightford SYNOPSIS AS INTRODUCED:
|
| |
Amends the Illinois Municipal Code. In provisions concerning finance, provides that a municipality may file a petition and exercise powers pursuant to applicable federal bankruptcy law. Effective immediately.
|
| |
| | A BILL FOR |
|
|
| | SB1365 | | LRB098 06940 OMW 36997 b |
|
|
| 1 | | AN ACT concerning local government.
|
| 2 | | Be it enacted by the People of the State of Illinois,
|
| 3 | | represented in the General Assembly:
|
| 4 | | Section 5. The Illinois Municipal Code is amended by adding |
| 5 | | Section 8-1-19 as follows:
|
| 6 | | (65 ILCS 5/8-1-19 new) |
| 7 | | Sec. 8-1-19. Bankruptcy; petitions. Any municipality may |
| 8 | | file a petition and exercise powers pursuant to applicable |
| 9 | | federal bankruptcy law.
|
| 10 | | Section 99. Effective date. This Act takes effect upon |
| 11 | | becoming law.
|