|
| | 98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB3864 Introduced , by Rep. Michael J. Madigan 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.
|
| |
| | A BILL FOR |
|
|
| | HB3864 | | LRB098 15423 JWD 50453 b |
|
|
| 1 | | AN ACT concerning finance.
|
| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
|
| 4 | | Section 5. The State Finance Act is amended by changing |
| 5 | | Section 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 |
| 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
Act, when any special fund in the State Treasury is |
| 13 | | discontinued by an Act
of the General Assembly, any balance |
| 14 | | remaining therein on the effective
date of such Act shall be |
| 15 | | transferred to the General Revenue Fund, or to
such other fund |
| 16 | | as such Act shall provide. Warrants outstanding against
such |
| 17 | | discontinued fund at the time of the transfer of any such |
| 18 | | balance
therein shall be paid out of the fund to which the |
| 19 | | transfer was made.
|
| 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 |