Illinois HB 3212: LOCAL GOV BANKRUPTCY NEUT EVAL

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB3212

Introduced 2/18/2025, by Rep. Steven Reick 

SYNOPSIS AS INTRODUCED:

New Act

5 ILCS 120/2 from Ch. 102, par. 42

5 ILCS 140/7.5

 Creates the Local Government Bankruptcy Neutral Evaluation Act. Makes legislative findings. Defines terms. Authorizes a local public entity to initiate a neutral evaluation process if that entity is unable to meet its financial obligations. Provides for the selection and qualification of an evaluator, the evaluation process, cessation of an evaluation, declaration of a fiscal emergency, and definition of liabilities. Provides that records prepared for or used in connection with the Local Government Bankruptcy Neutral Evaluation Act are exempt from disclosure. Amends the Open Meetings Act. Provides that a public body may hold closed meetings related to the Local Government Bankruptcy Neutral Evaluation Act. Amends the Freedom of Information Act. Makes conforming changes. Effective immediately.

LRB104 10230 RTM 20304 b

A BILL FOR

HB3212LRB104 10230 RTM 20304 b

1 AN ACT concerning State government.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 1. Short title. This Act may be cited as the Local 

5Government Bankruptcy Neutral Evaluation Act.

6 Section 2. Findings. Filing for Chapter 9 can reduce 

7service levels to the taxpayers and residents of a local 

8public entity. In some circumstances, it can have major 

9short-term and long-term fiscal consequences for the entity, 

10the surrounding entities, and the State. Filing for bankruptcy 

11protection under Chapter 9 should be considered a last resort, 

12to be instituted only after other reasonable efforts have been 

13