Illinois General Assembly - Bill Status for SB2413
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 Bill Status of SB2413  102nd General Assembly


Short Description:  FINANCIALLY DISTRESSED CITIES

Senate Sponsors
Sen. Napoleon Harris, III

Last Action
DateChamber Action
  4/16/2021SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
30 ILCS 105/5.935 new
30 ILCS 115/2from Ch. 85, par. 612
35 ILCS 5/901
65 ILCS 5/8-12-3from Ch. 24, par. 8-12-3
65 ILCS 5/8-12-4from Ch. 24, par. 8-12-4
65 ILCS 5/8-12-10from Ch. 24, par. 8-12-10
65 ILCS 5/8-12-18from Ch. 24, par. 8-12-18
65 ILCS 5/8-12-24from Ch. 24, par. 8-12-24


Synopsis As Introduced
Amends the State Finance Act. Creates the Financially Distressed Cities Fund. Amends the State Revenue Sharing Act and the Illinois Income Tax Act. Provides that the Comptroller shall monthly transfer to the Financially Distressed Cities Fund an amount certified by the Department of Revenue equal to: (1) the amount that would have been distributed under the State Revenue Sharing Act to all financially distressed cities if the Treasurer had transferred to the Local Government Distributive Fund a sum calculated using 10% of the net revenue realized from the tax imposed by the Illinois Income Tax Act upon individuals, trusts, estates, and corporations during the preceding month; and (2) subtracting the amount distributed to all financially distressed cities from the Local Government Distributive Fund. Provides that the Department of Revenue shall monthly allocate an amount from the Financially Distressed Cities Fund that shall be paid to each financially distressed city. Amends the Financially Distressed City Law of the Illinois Municipal Code. Makes the law applicable to both home rule and non-home rule municipalities. Provides that a State agency or unit of local government may also render technical assistance to a municipality's Financial Advisory Authority as the Authority may request. Provides that the State shall not reduce revenues or impose additional costs affecting a financially distressed city affecting the municipality unless it is consistent with the Financial Plan and Budget in effect. Provides that State mandates enacted while a municipality is designated as a financially distressed city that would cause the municipality to incur costs are not valid or enforceable during the period when the municipality is under the financially distressed city designation. Effective January 1, 2022.

Actions 
DateChamber Action
  2/26/2021SenateFiled with Secretary by Sen. Napoleon Harris, III
  2/26/2021SenateFirst Reading
  2/26/2021SenateReferred to Assignments
  3/23/2021SenateAssigned to Revenue
  4/16/2021SenateRule 3-9(a) / Re-referred to Assignments

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