Date	Chamber	Action
1/10/2023	Senate	Session Sine Die

Statutes Amended In Order of Appearance

30 ILCS 105/5.935 new

30 ILCS 115/2

from Ch. 85, par. 612

35 ILCS 5/901

65 ILCS 5/8-12-3

from Ch. 24, par. 8-12-3

65 ILCS 5/8-12-4

from Ch. 24, par. 8-12-4

65 ILCS 5/8-12-10

from Ch. 24, par. 8-12-10

65 ILCS 5/8-12-18

from Ch. 24, par. 8-12-18

65 ILCS 5/8-12-24

from Ch. 24, par. 8-12-24

Synopsis As Introduced
Amends the State Finance Act. Creates the Financially Distressed Cities Fund. Amends the State Revenue Sharing Act and the Illinois Income Tax Act. Provides that the Comptroller shall monthly transfer to the Financially Distressed Cities Fund an amount certified by the Department of Revenue equal to: (1) the amount that would have been distributed under the State Revenue Sharing Act to all financially distressed cities if the Treasurer had transferred to the Local Government Distributive Fund a sum calculated using 10% of the net revenue realized from the tax imposed by the Illinois Income Tax Act upon individuals, trusts, estates, and corporations during the preceding month; and (2) subtracting the amount distributed to all financially distressed cities from the Local Government Distributive Fund. Provides that the Department of Revenue shall monthly allocate an amount from the Financially Distressed Cities Fund that shall be paid to each financially distressed city. Amends the Financially Distressed City Law of the Illinois Municipal Code. Makes the law applicable to both home rule and non-home rule municipalities. Provides that a State agency or unit of local government may also render technical assistance to a municipality's Financial Advisory Authority as the Authority may request. Provides that the State shall not reduce revenues or impose additional costs affecting a financially distressed city affecting the municipality unless it is consistent with the Financial Plan and Budget in effect. Provides that State mandates enacted while a municipality is designated as a financially distressed city that would cause the municipality to incur costs are not valid or enforceable during the period when the municipality is under the financially distressed city designation. Effective January 1, 2022.

Actions 

Date	Chamber	Action
2/26/2021	Senate	Filed with Secretary by Sen. Napoleon Harris, III
2/26/2021	Senate	First Reading
2/26/2021	Senate	Referred to Assignments
3/23/2021	Senate	Assigned to Revenue
4/16/2021	Senate	Rule 3-9(a) / Re-referred to Assignments
1/10/2023	Senate	Session Sine Die

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