If the corporate authorities of a taxing district determine that the taxing district has on hand surplus funds from any source, then the corporate authorities may transfer those surplus funds into a tax reimbursement account.
35 ILCS 200/30-20
Tax reimbursement account
Known as the Fiscal Responsibility Law
The act spans §§ 35-200-30-1 to 35-200-30-5 (8 sections).
P.A. 87-737; 87-767; 88-455.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.