Synopsis As Introduced Creates the Illinois Local Government Protection Authority Act. Provides findings of the General Assembly and establishes the Authority, which shall provide a supervised forum to assist with the determination of specified issues resulting from underfunded government services and unaffordable costs and liabilities for local government. Defines terms and creates a board of trustees. Sets forth the Authority's duties and powers, including the ability to obtain the unit of local government's records and to recommend revenue increases. Provides for a petition process that allows specified entities to petition the Authority to exercise its authority over a unit of local government. Sets forth participation requirements.