HB 5785

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Full Text of HB5785
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					HB5785 - 104th General Assembly
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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB5785
Introduced 5/20/2026, by Rep. Dan Ugaste
SYNOPSIS AS INTRODUCED:
New Act
    Creates the Local Government Surplus Funds Limitation Act. Provides that no taxing district, other than a municipality with a population of less than 10,000 inhabitants, may hold more than 200% of the amount of the municipality's tax collections from the previous fiscal year in cash or cash-equivalent assets. Provides that, if, at the end of any fiscal quarter, the taxing district has more than that amount in cash or cash-equivalent assets, then the excess amount shall be refunded to taxpayers pro rata based on each taxpayer's percentage of the total levy for the previous year. Preempts the concurrent exercise of home rule powers. Effective immediately.
				LRB104 21571 HLH 36997 b
A BILL FOR
		HB5785		LRB104 21571 HLH 36997 b
1		    AN ACT concerning local government.
2		    Be it enacted by the People of the State of Illinois,
3		represented in the General Assembly:
4		    Section 1. Short title. This Act may be cited as the Local
5		Government Surplus Funds Limitation Act.
6		    Section 5. Definitions. As used in this Act:
7		    "Tax collections" means the aggregate amount collected by
8		the taxing district from property taxes and other taxes
9		imposed by the taxing district, but not including any fines or
10		fees imposed by the taxing district.
11		    "Taxing district" has the meaning given to that term in
12		Section 1-150 of the Property Tax Code.
13		    Section 10. Limit on surplus funds. For fiscal years
14		beginning on or after July 1, 2026, no taxing district, other
15		than a municipality with a population of less than 10,000
16		inhabitants, may hold more than 200% of the amount of the
17		municipality's tax collections from the previous fiscal year
18		in cash or cash-equivalent assets. If, at the end of any fiscal
19		quarter, the taxing district has more than that amount in cash
20		or cash-equivalent assets, then the excess amount shall be
21		refunded to taxpayers pro rata based on each taxpayer's
22		percentage of the total levy for the previous year.
		HB5785	- 2 -	LRB104 21571 HLH 36997 b
1		    Section 15. Home rule. A home rule unit may not regulate
2		tax collections in a manner that is inconsistent with this
3		Act. This Act is a limitation under subsection (i) of Section 6
4		of Article VII of the Illinois Constitution on the concurrent
5		exercise by home rule units of powers and functions exercised
6		by the State.
7		    Section 99. Effective date. This Act takes effect upon
8		becoming law.