99TH GENERAL ASSEMBLY
State of Illinois
SB2979
Introduced 2/18/2016, by Sen. John J. Cullerton
SYNOPSIS AS INTRODUCED:
Makes appropriations for the operational expenses of the Office of the State Treasurer. Makes further appropriations for: banking services; refunds of protested tax interest; bond payments; arbitrage rebate payments; and grants to public and private entities. Effective July 1, 2016.
LRB099 20525 RJF 45065 b
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AN ACT concerning appropriations.
Be it enacted by the People of the State of Illinois, represented in the General Assembly:
Section 5. The amount of $7,601,800, or so much thereof as may be necessary, is appropriated from the General Revenue Fund to the Office of the State Treasurer to meet its operational expenses for the fiscal year ending June 30, 2017, including prior year costs.
Section 10. The amount of $1,000,000, or so much thereof as may be necessary, is appropriated to the State Treasurer from the General Revenue Fund for the purpose of making refunds of accrued interest on protested tax cases.
Section 15. The amount of $11,051,660, or so much thereof as may be necessary, is appropriated from the State Pensions Fund to the Office of the State Treasurer to meet its operational expenses for the fiscal year ending June 30, 2017.
Section 20. The amount of $8,100,000, or so much of that amount as may be necessary, is appropriated to the State Treasurer from the Bank Services Trust Fund for the purpose of making payments for banking services pursuant to the State Treasurer's Bank Services Trust Fund Act.
Section 25. The following named amounts, or so much of those amounts as may be necessary, respectively, for the objects and purposes named in this Section, are appropriated to the State Treasurer for the payment of interest on and retirement of State bonded indebtedness:
For payment of principal and interest on any and all bonds issued pursuant to the Anti-Pollution Bond Act, the Transportation Bond Act, the Capital Development Bond Act of 1972, the School Construction Bond Act, the Illinois Coal and Energy Development Bond Act, and the General Obligation Bond Act:
From the General Obligation Bond Retirement and Interest Fund:
Principal................................. $1,946,091,400
Interest................................... 1,367,210,900
Total $3,313,302,300
Section 30. The amount of $1,000,000, or so much thereof as may be necessary, is appropriated to the State Treasurer from the General Obligation Bond Rebate Fund for the purpose of making arbitrage rebate payments to the United States government.
Section 35. The amount of $2,000,000, or so much thereof as may be necessary, is appropriated from the Charitable Trust Stabilization Fund to the State Treasurer for the State Treasurer’s operational costs to administer the Charitable Trust Stabilization Fund and for grants to public and private entities in the State for the purposes set out in the Charitable Trust Stabilization Act.
Section 40. The amount of $2,081,300, or so much thereof as may be necessary, is appropriated from the State Pensions Fund to the State Treasurer for the State Treasurer’s operational costs to administer the Illinois Secure Choice Savings Program for the purposes set out in the Illinois Secure Choice Savings Program Act.
Section 99. Effective date. This Act takes effect July 1, 2016.