102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB1237

 

Introduced 2/17/2021, by Rep. Emanuel Chris Welch

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 105/5  from Ch. 127, par. 141

    Amends the State Finance Act. Makes a technical change in a Section concerning special funds.


LRB102 03252 RJF 13265 b

 

 

A BILL FOR

 

HB1237LRB102 03252 RJF 13265 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 changing
5Section 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 the State Treasury
9designated as specified in the Sections which succeed this
10Section 5 and precede Section 6.
11    (b) Except as provided in the Illinois Motor Vehicle Theft
12Prevention and Insurance Verification Act, when any special
13fund in the State Treasury is discontinued by an Act of the
14General Assembly, any balance remaining therein on the
15effective date of such Act shall be transferred to the General
16Revenue Fund, or to such other fund as such Act shall provide.
17Warrants outstanding against such discontinued fund at the
18time of the transfer of any such balance therein shall be paid
19out of the fund to which the transfer was made.
20    (c) When any special fund in the State Treasury has been
21inactive for 18 months or longer, the fund is automatically
22terminated by operation of law and the balance remaining in
23such fund shall be transferred by the Comptroller to the

 

 

HB1237- 2 -LRB102 03252 RJF 13265 b

1General Revenue Fund. When a special fund has been terminated
2by operation of law as provided in this Section, the General
3Assembly shall repeal or amend all Sections of the statutes
4creating or otherwise referring to that fund.
5    The Comptroller shall be allowed the discretion to
6maintain or dissolve any federal trust fund which has been
7inactive for 18 months or longer.
8    (d) (Blank).
9    (e) (Blank).
10(Source: P.A. 100-373, eff. 1-1-18.)