SB0685enr 103RD GENERAL ASSEMBLY

SB0685 Enrolled LRB103 03138 AWJ 48144 b

AN ACT concerning local government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Township Code is amended by changing Section 85-65 as follows:

(60 ILCS 1/85-65)

Sec. 85-65. Accumulation of funds. Township funds, including, but not limited to, general assistance funds and excluding the township's 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. Townships on a cash basis or modified cash basis of accounting may only count levied tax funds toward the total township funds calculated under this Section if received within the township's fiscal year. The highway commissioner's equipment and building fund is considered a capital fund account and is not subject to this Section.

(Source: P.A. 102-231, eff. 7-30-21.)