93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
SB2682


 
Introduced 2/4/2004, by Patrick Welch
 
SYNOPSIS AS INTRODUCED:
 		














30 ILCS 105/8h









    Amends the State Finance Act. Provides that no transfers may be made, in order to help defray the State's operating costs for the
fiscal year, from the Road Fund or the State Construction Account Fund on or after the effective date of this amendatory Act.  Effective July 1, 2004.



















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FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 














SB2682

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    AN ACT concerning finance.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The State Finance Act is amended  by changing 
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Section 8h as follows:
 



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    (30 ILCS 105/8h)



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    Sec. 8h. Transfers to General Revenue Fund. 
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Notwithstanding any other
State law to the contrary, the 
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Director of the
Governor's Office of Management and Budget

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Bureau of the Budget
may from time to time direct the State 
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Treasurer and Comptroller to transfer
a specified sum from any 
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fund held by the State Treasurer to the General
Revenue Fund in 
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order to help defray the State's operating costs for the
fiscal 
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year.  The total transfer under this Section from any fund in 
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any
fiscal year shall not exceed the lesser of 8% of the 
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revenues to be deposited
into the fund during that year or 25% 
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of the beginning balance in the fund.
No transfer may be made 
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from a fund under this Section that would have the
effect of 
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reducing the available balance in the fund to an amount less 
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than
the amount remaining unexpended and unreserved from the 
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total appropriation
from that fund for that fiscal year.  This 
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Section does not apply to any
funds that are restricted by 
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federal law to a specific use or to any funds in
the Motor Fuel 
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Tax Fund. No transfers may be made under this Section from the 
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Road Fund or the State Construction Account Fund on or after 
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the effective date of this amendatory Act of the 93rd General 
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Assembly.
Notwithstanding any other provision of this Section,

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the total transfer under this Section from the Road Fund or the 
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State
Construction Account Fund shall not exceed 5% of the 
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revenues to be deposited
into the fund during that year.

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    In determining the available balance in a fund, the 
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Director of the
Governor's Office of Management and Budget

 


 









SB2682
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1
Bureau of the Budget
may include receipts, transfers into the 
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fund, and other
resources anticipated to be available in the 
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fund in that fiscal year.

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    The State Treasurer and Comptroller shall transfer the 
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amounts designated
under this Section as soon as may be 
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practicable after receiving the direction
to transfer from the 
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Director of the Governor's Office of Management and
Budget

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Bureau of the Budget.

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(Source: P.A. 93-32, eff. 6-20-03; revised 8-21-03.)

 

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    Section 99. Effective date. This Act takes effect on July 
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1, 2004.