(225 ILCS 441/25-5)

(Section scheduled to be repealed on January 1, 2027)

Sec. 25-5. Division of Real Estate General Fund; surcharge.

(a) The Home Inspector Administration Fund is created as a special fund in the State Treasury. Prior to July 1, 2023, all fees, fines, and penalties received by the Department under this Act shall be deposited into the Home Inspector Administration Fund. All earnings attributable to investment of funds in the Home Inspector Administration Fund shall be credited to the Home Inspector Administration Fund. Subject to appropriation, the moneys in the Home Inspector Administration Fund shall be appropriated to the Department for the expenses incurred by the Department in the administration of this Act.

(a-5) The Division of Real Estate General Fund is created as a special fund in the State Treasury. Beginning on July 1, 2023, all fees, fines, and penalties received by the Department under this Act shall be deposited into the Division of Real Estate General Fund. All earnings attributable to investment of funds in the Division of Real Estate General Fund shall be credited to the Division of Real Estate General Fund. Subject to appropriation, the moneys in the Division of Real Estate General Fund shall be appropriated to the Department for the expenses incurred by the Department in the administration of this Act.

(b) (Blank).

(c) (Blank).

(c-5) Moneys in the Home Inspection Administration Fund and the Division of Real Estate General Fund may be transferred to the Professions Indirect Cost Fund, as authorized under Section 2105-300 of the Department of Professional Regulation Law of the Civil Administrative Code of Illinois.

(d) Upon the completion of any audit of the Department, as prescribed by the Illinois State Auditing Act, that includes an audit of the Home Inspector Administration Fund or the Division of Real Estate General Fund, the Department shall make the audit report open to inspection by any interested person.

(e) Notwithstanding any other provision of law, in addition to any other transfers that may be provided by law, on July 1, 2023, or as soon thereafter as practical, the State Comptroller shall direct and the State Treasurer shall transfer the remaining balance from the Home Inspector Administration Fund into the Division of Real Estate General Fund. Upon completion of the transfer, the Home Inspector Administration Fund is dissolved, and any future deposits due to that Fund and any outstanding obligations or liabilities of that Fund pass to the Division of Real Estate General Fund.

(Source: P.A. 102-970, eff. 5-27-22.)