Illinois General Assembly - Illinois Compiled Statutes

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35 ILCS 200/21-300

(35 ILCS 200/21-300)

Sec. 21-300.

Amount to be retained in indemnity fund.

(a) The county board in each county shall determine the amount of the fund
to be maintained in that county, which amount shall not be less than 0.03% of
the total assessed valuation, as equalized by the Department, of property
within the County, or $50,000, whichever is greater, and shall not be greater
than $1,000,000 in counties with less than 3,000,000 inhabitants, and not
greater than $2,000,000 in counties with 3,000,000 or more inhabitants. Any
moneys accumulated by the County Treasurer in excess of the amount so
established, as trustee of the fund, shall be paid by him or her annually to
the general fund of the County.

(b) In counties in which a Tort Liability Fund is established, all sums of
money received under subsection (a) of Section 21-295 may be deposited in the
general fund of the county for general county governmental purposes, if the
county board provides by ordinance that the indemnity required by this Section
shall be provided by the Tort Liability Fund.

(Source: P.A. 86-1028; 86-1431; 88-455.)