summary
Introduced
02/06/2026
02/06/2026
In Committee
03/25/2026
03/25/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Reinserts the provisions of the introduced bill with the following changes. Provides that The independent CPA firm retained by the responsible officials of Category 2 local governments shall complete all of the AUPs and electronically submit an agreed upon procedures report to the responsible officials and management of the Category 2 local government for review. Requires the Comptroller to develop, maintain, and publish the guidelines for circuit clerks, with the advice of the Local Government Advisory Board, the Administrative Office of the Illinois Courts, a Statewide organization representing circuit clerks, and a Statewide CPA organization. Makes changes to provisions concerning waivers the Comptroller may grant to governmental units. Defines terms. Further amends the Intergovernmental Cooperation Act. Provides that, for fiscal years beginning before January 1, 2028, the operations and fiscal activities of each municipal joint action water agency shall be subject to the Governmental Account Audit Act. Provides that, for fiscal years beginning after December 31, 2027, the operations and fiscal activities of each municipal joint action water agency shall be subject to the Government Reporting Enhancement and Transparency Act. Further amends the Governmental Account Audit Act. Provides that, on or after March 15, 2027, if a governmental unit fails to comply with the requirements of the Act or any other State law mandating the governmental unit to undergo an audit and is more than 63 days late in meeting its reporting obligations, after considering any extensions granted by the Comptroller, the Comptroller shall review the governmental unit's actions. Makes other and conforming changes. Effective immediately.
AI Summary
This bill, the Government Reporting Enhancement and Transparency Act, aims to standardize and improve financial reporting and auditing for local governments in Illinois. Key provisions include requiring independent CPA firms to conduct agreed-upon procedures (AUPs) for certain local governments, with specific guidelines to be developed by the Comptroller in consultation with various boards and organizations. The bill categorizes local governments based on their annual cash receipts from external sources, with different reporting and auditing requirements for each category. For instance, Category 1 local governments will have an auditing committee of independent electors review records using a Comptroller-provided template, while Category 2 local governments will undergo AUPs performed by their retained CPA firm. The bill also establishes a transition period for these new requirements, starting in fiscal years beginning after December 31, 2027, and includes provisions for waivers, penalties for late reporting, and the creation of a public searchable electronic database for local government financial information. Furthermore, it amends various existing laws to align reporting and auditing requirements with the new framework, including changes for municipal joint action water agencies, multi-township assessment districts, public building commissions, counties, townships, municipalities, port districts, park districts, and other special districts, ensuring a more transparent and consistent approach to local government financial oversight.
Committee Categories
Government Affairs
Sponsors (4)
Last Action
Placed on Calendar Order of 3rd Reading - Short Debate (on 04/07/2026)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...