HB1896 EngrossedLRB100 04428 AWJ 14434 b

1    AN ACT concerning local government.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Township Code is amended by adding Section
530-22 as follows:
6    (60 ILCS 1/30-22 new)
7    Sec. 30-22. Accumulation of funds. Township funds,
8excluding the township's capital fund, shall not exceed an
9amount equal to or greater than 2.5 times the annual average
10expenditure of the previous 3 fiscal years.
11    Section 99. Effective date. This Act takes effect upon
12becoming law.