Public Act 103-0072

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Public Act 103-0072

Public Act 0072 103RD GENERAL ASSEMBLY

  
  
  
 

 
Public Act 103-0072
 
SB0685 EnrolledLRB103 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.)