Illinois 104th General Assembly Status: Introduced 3 D cosponsors

SB1408      — GOVT ACCOUNT AUDIT THRESHOLD

Last action — Added as Chief Co-Sponsor Sen. Graciela Guzmán

  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the Senate. Introduced January 31, 2025. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Not enough signal yet

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

Amends the Governmental Account Audit Act. Provides that any governmental unit receiving revenue of less than $1,500,000 (rather than $850,000) for any fiscal year shall, in lieu of causing an annual audit of the accounts of the unit to be made, either (i) cause an audit of the accounts of the unit to be made once every 4 years and file with the Comptroller an annual financial report containing information required by the Comptroller or (ii) file with the Comptroller an annual financial report containing information required by the Comptroller, a copy of which has been provided to each member of that governmental unit's board of elected officials, presented either in person or by a live phone or web connection during a public meeting, and approved by a 3/5 majority vote. Makes conforming changes. Effective immediately.

Bill Text

We don't have the full text on file for this bill yet.

Read SB1408 on the official Illinois source →

Action History

  1. Added as Chief Co-Sponsor Sen. Graciela Guzmán

  2. Added as Co-Sponsor Sen. Paul Faraci

  3. Referred to Assignments

  4. First Reading

  5. Filed with Secretary by Sen. Patrick J. Joyce

Sponsors

Sponsorship breakdown

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1 sponsors · 2 co-sponsors · 180 not signed on

Sponsors (1)

Co-sponsors (2)

Not signed on (180)

180 members have not signed on to this bill.

Show all 180 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB1408      do?
Amends the Governmental Account Audit Act. Provides that any governmental unit receiving revenue of less than $1,500,000 (rather than $850,000) for any fiscal year shall, in lieu of causing an annual audit of the accounts of the unit to be made, either (i) cause an audit of the accounts of the unit to be made once every 4 years and file with the Comptroller an annual financial report containing information required by the Comptroller or (ii) file with the Comptroller an annual financial report containing information required by the Comptroller, a copy of which has been provided to each member of that governmental unit's board of elected officials, presented either in person or by a live phone or web connection during a public meeting, and approved by a 3/5 majority vote. Makes conforming changes. Effective immediately.
Who sponsors SB1408     ?
SB1408      is sponsored by Patrick J. Joyce (Democrat), Graciela Guzmán (Democrat), and Paul Faraci (Democrat).
What is the current status of SB1408     ?
This bill has been introduced in the Senate. Introduced January 31, 2025. It must pass committee before a floor vote.
Where can I track SB1408     ?
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Last checked for changes 3 months ago · updated continuously

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