MUNI CD-CICERO AUDIT COMMITTEE

Amends the Illinois Municipal Code. Creates the Cicero Audit Committee. Provides that the duties of the Committee shall be to review certain financial reports prepared by or on behalf of the Town of Cicero. Requires that, no later than February 1 of each year, the Committee shall report to the Governor and to the members of the General Assembly regarding the financial reporting of the Town of Cicero. Provides that the Committee shall consist of 5 members appointed by the Governor with the advice and consent of the Senate and that no more than 2 members of the Committee may be residents of the Town of Cicero. Provides that the members of the Committee shall serve without compensation but may be reimbursed for their reasonable expenses. Requires the corporate authorities of the Town of Cicero to provide any information or documents to the Committee that the Committee deems necessary in carrying out its duties. Preempts home rule powers. Provides that these provisions are repealed on February 15, 2008. Effective immediately.