Illinois HB 1321: ATTY GEN-UTILITY INFO

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB1321

Introduced 1/28/2025, by Rep. Dan Ugaste and Tony M. McCombie 

SYNOPSIS AS INTRODUCED:

35 ILCS 200/30-32 new

 Amends the Property Tax Code. Provides that no taxing district may hold more than 150% of the previous levy year's property tax collections in cash or cash-equivalent assets. Provides that excess amounts shall be refunded to taxpayers. Effective immediately.

LRB104 03217 HLH 13238 b

A BILL FOR

HB1321LRB104 03217 HLH 13238 b

1 AN ACT concerning local government.

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

3represented in the General Assembly:

4 Section 5. The Property Tax Code is amended by adding 

5Section 30-32 as follows:

6 (35 ILCS 200/30-32 new)

7 Sec. 30-32. Limit on surplus funds. No taxing district may 

8hold more than 150% of the previous levy year's property tax 

9collections in cash or cash-equivalent assets. If, at the end 

10of any fiscal quarter, the taxing district has more than that 

11amount in cash or cash-equivalent assets, then the excess 

12amount shall be refunded to taxpayers pro rata based on each 

13taxpayer's percentage of the total levy for the previous year.

14 Section 99. Effective date. This Act takes effect upon 

15becoming law.

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