SB2219 Engrossed LRB093 15844 RCE 41461 b

1     AN ACT in relation to finance.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The State Finance Act is amended by changing
5 Section 5 as follows:
 
6     (30 ILCS 105/5)  (from Ch. 127, par. 141)
7     Sec. 5. Special funds.
8     (a) There are special funds in the State Treasury
9 designated as specified in the Sections which succeed this
10 Section 5 and precede Section 6.
11     (b) Except as provided in the Illinois Motor Vehicle Theft
12 Prevention Act, when any special fund in the State Treasury is
13 discontinued by an Act of the General Assembly, any balance
14 remaining therein on the effective date of such Act shall be
15 transferred to the General Revenue Fund, or to such other fund
16 as such Act provides shall provide. Warrants outstanding
17 against such discontinued fund at the time of the transfer of
18 any such balance therein shall be paid out of the fund to which
19 the transfer was made.
20     (c) When any special fund in the State Treasury has been
21 inactive for 18 months or longer, the fund is automatically
22 terminated by operation of law and the balance remaining in
23 such fund shall be transferred by the Comptroller to the
24 General Revenue Fund. When a special fund has been terminated
25 by operation of law as provided in this Section, the General
26 Assembly shall repeal or amend all Sections of the statutes
27 creating or otherwise referring to that fund.
28     The Comptroller shall be allowed the discretion to maintain
29 or dissolve any federal trust fund which has been inactive for
30 18 months or longer.
31     (d) (Blank).
32     (e) (Blank).

 

 

SB2219 Engrossed - 2 - LRB093 15844 RCE 41461 b

1 (Source: P.A. 90-372, eff. 7-1-98.)