HB4545 - 104th General Assembly (2025-2026)

GOVT ACCOUNT AUDIT THRESHOLD
Last Action
3/25/2026 - House: Placed on Calendar 2nd Reading - Short Debate
Hearings
Executive Committee Hearing Mar 25 2026 10:00AM Capitol Building 118 and Virtual Room 2 Springfield, IL
Statutes Amended In Order of Appearance
50 ILCS 310/1  from Ch. 85, par. 701
50 ILCS 310/3  from Ch. 85, par. 703
50 ILCS 310/6  from Ch. 85, par. 706
Synopsis As Introduced
Amends the Governmental Account Audit Act. Provides that, beginning in fiscal year 2027, any governmental unit receiving revenue of less than $1,500,000 (rather than $850,000) in the immediately preceding fiscal year shall, in lieu of causing an annual audit of the accounts of the unit to be made, either (i) cause an audit of the accounts of the unit to be made once every 4 years and file with the Comptroller an annual financial report containing information required by the Comptroller or (ii) file with the Comptroller an annual financial report containing information required by the Comptroller, a copy of which has been provided to each member of that governmental unit's board of elected officials, presented either in person or by a live phone or web connection during a public meeting, and approved by a 3/5 majority vote. Provides that, beginning in fiscal year 2027, governmental units receiving revenue of $1,500,000 or more (rather than $850,000) in the immediately preceding fiscal year shall, in addition to complying with the requirements for audits and audit reports, file with the Comptroller the financial report and immediately make one copy of the audit report and one copy of the financial report a part of its public record as required by the Act. Makes conforming changes. Effective immediately.
Actions
DateChamberAction
1/22/2026HouseFiled with the Clerk by Rep. Diane Blair-Sherlock
1/30/2026HouseFirst Reading
1/30/2026HouseReferred to Rules Committee
2/11/2026HouseAdded Co-Sponsor Rep. Anthony DeLuca
2/11/2026HouseAssigned to Executive Committee
3/05/2026HouseAdded Co-Sponsor Rep. Michelle Mussman
3/10/2026HouseAdded Co-Sponsor Rep. Michael J. Coffey, Jr.
3/25/2026HouseDo Pass / Short Debate Executive Committee; 012-000-000
3/25/2026HousePlaced on Calendar 2nd Reading - Short Debate