LOCAL ACCUMULATION OF FUNDS House SponsorsRep. Brad Halbrook 1/13/2021HouseSession Sine Die New Act60 ILCS 1/85-65 rep. Creates the Local Accumulation of Funds Act. Provides that a unit of local government's funds, excluding the 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 of the unit of local government. Defines "capital fund" as a capital fund of a township or a similar fund of another unit of local government established to dedicate funds toward capital improvement as a part of the unit of local government's annual budget. Effective immediately. 2/15/2019HouseFiled with the Clerk by Rep. Brad Halbrook 2/15/2019HouseFirst Reading 2/15/2019HouseReferred to Rules Committee 3/5/2019HouseAssigned to Cities & Villages Committee 3/29/2019HouseRule 19(a) / Re-referred to Rules Committee 1/13/2021HouseSession Sine Die