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| | HB5282 Engrossed | | LRB100 16871 HLH 32012 b |
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| 1 | | AN ACT concerning finance.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The State Finance Act is amended by adding |
| 5 | | Section 5l as follows:
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| 6 | | (30 ILCS 105/5l new) |
| 7 | | Sec. 5l. General Revenue Fund transfers; Transportation |
| 8 | | Maintenance Fund. |
| 9 | | (a) The Transportation Maintenance Fund is hereby created |
| 10 | | as a special fund in the State treasury. Moneys in the Fund |
| 11 | | shall be used by the Department of Transportation for the |
| 12 | | maintenance and construction of roads and bridges in the State. |
| 13 | | (b) Notwithstanding any other provision of law, if, |
| 14 | | beginning with fiscal year 2018, the average balance in the |
| 15 | | General Revenue Fund for any fiscal year exceeds the average |
| 16 | | balance in the General Revenue Fund for the immediately |
| 17 | | preceding fiscal year by more than 2%, then, by October 1 |
| 18 | | following the close of that fiscal year, the State Comptroller |
| 19 | | shall order transferred and the State Treasurer shall transfer |
| 20 | | from the General Revenue Fund to the Transportation Maintenance |
| 21 | | Fund an amount equal to 50% of the amount by which that average |
| 22 | | balance exceeds 102% of the immediately preceding fiscal year's |
| 23 | | average balance.
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