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| | 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 |
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Amends the State Finance Act. Makes a technical change in a Section
concerning special funds.
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| | A BILL FOR |
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| | HB1237 | | LRB102 03252 RJF 13265 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, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The State Finance Act is amended by changing |
| 5 | | Section 5 as follows:
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| 6 | | (30 ILCS 105/5) (from Ch. 127, par. 141)
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| 7 | | Sec. 5. Special funds.
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| 8 | | (a) There are special funds in the
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 and Insurance Verification
Act, when any special |
| 13 | | fund in the State Treasury is discontinued by an Act
of the |
| 14 | | General Assembly, any balance remaining therein on the |
| 15 | | effective
date of such Act shall be transferred to the General |
| 16 | | Revenue Fund, or to
such other fund as such Act shall provide. |
| 17 | | Warrants outstanding against
such discontinued fund at the |
| 18 | | time of the transfer of any such balance
therein shall be paid |
| 19 | | out of the fund to which the transfer was made.
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| 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 |