Rep. Davis pushes for Financially Distressed Cities Fund, maintained by state treasurer
State Rep. William Davis (D-Hazel Crest) has introduced a bill that seeks to amend the State Finance Act by creating the Financially Distressed Cities Fund, which calls for the state treasurer to make designated, monthly payments to the fund that might have otherwise been distributed under the State Revenue Sharing Act.
In addition, House Bill 0875 stipulates 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,” while making the law applicable to both home rule and non-home rule municipalities.
The bill has been assigned to the House Revenue & Finance Committee in Springfield.
A veteran lawmaker of more than 16 years, Davis also serves on the Appropriations-Capital, Appropriations-Elementary & Secondary Education and Appropriations-Public Safety Committees.