Bill Title: Amends the Cemetery Care Act. Defines "average fair market value", "total return percentage", and "net income". Provides that a trustee may apply to the Comptroller to establish a master trust fund in which deposits are made. Allows a cemetery authority to take distributions from its fund either by distributing ordinary income or total return distribution. Requires an application for the implementation of the total return distribution method to be submitted to the Comptroller at least 120 days before the effective date of the election to receive total return distribution. Allows, where no receiver is available, a circuit court to order a willing local municipality, township, county, or city to take over the cemetery. Repeals a provision regarding the use of care funds. Makes other changes.
Spectrum: Strong Partisan Bill (Democrat 13-1)
Status: (Engrossed) 2023-03-28 - Added as Alternate Chief Co-Sponsor Sen. Bill Cunningham
[HB3102 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
|---|
| Engrossed | 2023-03-15 | HTML/Text | Link | View |
| Introduced | 2023-02-16 | HTML/Text | Link | View |
Amendments
Supplemental Documents
| Title | Description | Date | Format | Source | View |
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| No supplemental documents for Illinois HB3102 currently on file. |
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