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| 1 | AMENDMENT TO HOUSE BILL 1355
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| 2 | AMENDMENT NO. ______. Amend House Bill 1355 by replacing | ||||||
| 3 | everything after the enacting clause with the following:
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| 4 | "Section 5. The Department of Revenue Law of the
Civil | ||||||
| 5 | Administrative Code of Illinois is amended by adding Section | ||||||
| 6 | 2505-755 as follows: | ||||||
| 7 | (20 ILCS 2505/2505-755 new) | ||||||
| 8 | Sec. 2505-755. Deposit of State funds. Notwithstanding any | ||||||
| 9 | other provision of law, the proceeds from any tax imposed by | ||||||
| 10 | the State and collected and administered by the Department | ||||||
| 11 | shall be deposited into the appropriate fund in the State | ||||||
| 12 | treasury within 3 business days after the proceeds are received | ||||||
| 13 | by the Department. If the funds are required by law to be | ||||||
| 14 | deposited into a specific fund in the State treasury for | ||||||
| 15 | subsequent transfer by law into another fund in the State | ||||||
| 16 | treasury, then the 3-business day requirement under this | ||||||
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| 1 | Section applies only to deposits into the first fund. The | ||||||
| 2 | subsequent transfer shall be made in accordance with the | ||||||
| 3 | applicable statute. | ||||||
| 4 | Section 10. The State Finance Act is amended by adding | ||||||
| 5 | Section 4.2 as follows: | ||||||
| 6 | (30 ILCS 105/4.2 new) | ||||||
| 7 | Sec. 4.2. Deposit of State funds. Notwithstanding any other | ||||||
| 8 | provision of law, moneys received by any State agency that are | ||||||
| 9 | required to be deposited into a fund in the State treasury | ||||||
| 10 | shall be deposited into the appropriate fund in the State | ||||||
| 11 | treasury within 3 business days after the moneys are received | ||||||
| 12 | by the agency. If the funds are required by law to be deposited | ||||||
| 13 | into a specific fund in the State treasury for subsequent | ||||||
| 14 | transfer by law into another fund in the State treasury, then | ||||||
| 15 | the 3-business day requirement under this Section applies only | ||||||
| 16 | to deposits into the first fund. The subsequent transfer shall | ||||||
| 17 | be made in accordance with the applicable statute.
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| 18 | Section 99. Effective date. This Act takes effect upon | ||||||
| 19 | becoming law.".
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