101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB1597

 

Introduced , by Rep. Monica Bristow

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 105/5l new

    Amends the State Finance Act. Creates the Transportation Maintenance Fund. Provides that moneys in the Transportation Maintenance Fund shall be used by the Department of Transportation for the maintenance and construction of roads and bridges in the State. Provides for transfers from the General Revenue Fund to the Transportation Maintenance Fund if the average balance in the General Revenue Fund for any fiscal year exceeds the average balance in the General Revenue Fund for the immediately preceding fiscal year by more than 2%. Effective immediately.


LRB101 07099 RJF 52136 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB1597LRB101 07099 RJF 52136 b

1    AN ACT concerning finance.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The State Finance Act is amended by adding
5Section 5l as follows:
 
6    (30 ILCS 105/5l new)
7    Sec. 5l. General Revenue Fund transfers; Transportation
8Maintenance Fund.
9    (a) The Transportation Maintenance Fund is hereby created
10as a special fund in the State treasury. Moneys in the Fund
11shall be used by the Department of Transportation for the
12maintenance and construction of roads and bridges in the State.
13    (b) Notwithstanding any other provision of law, if,
14beginning with fiscal year 2019, the average balance in the
15General Revenue Fund for any fiscal year exceeds the average
16balance in the General Revenue Fund for the immediately
17preceding fiscal year by more than 2%, then, by October 1
18following the close of that fiscal year, the State Comptroller
19shall order transferred and the State Treasurer shall transfer
20from the General Revenue Fund to the Transportation Maintenance
21Fund an amount equal to 50% of the amount by which that average
22balance exceeds 102% of the immediately preceding fiscal year's
23average balance.
 

 

 

HB1597- 2 -LRB101 07099 RJF 52136 b

1    Section 99. Effective date. This Act takes effect upon
2becoming law.