94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB1770


 
Introduced 2/25/2005, by Sen. James A. DeLeo
 
SYNOPSIS AS INTRODUCED:
 		














820 ILCS 405/2103.1
  from Ch. 48, par. 663.1







    Amends the Unemployment Insurance Act. Provides that all remaining funds in the Employment Security Administrative Fund shall be transferred to the clearing account on July 1, 2005 or as soon thereafter as is reasonably practicable, and, upon the transfer of the funds, the Employment Security Administrative Fund is abolished.  Provides that the provisions establishing the Employment Security Administrative Fund are repealed on January 1, 2006. Effective July 1, 2005.
















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FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











SB1770

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    AN ACT concerning unemployment insurance.

 
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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 Unemployment Insurance Act is amended  by 
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changing Section 2103.1 as follows:
 



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    (820 ILCS 405/2103.1)  (from Ch. 48, par. 663.1)



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    Sec. 2103.1. Employment Security Administrative Fund. 

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    There is hereby established the Employment Security 
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Administrative Fund.
Notwithstanding any other provision of 
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this Act, all amounts received
pursuant to subsection B of 
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Section 1506.3 shall be deposited in the
Employment Security 
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Administrative Fund held by the State Treasurer as
ex-officio 
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custodian thereof separate and apart from all other State

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moneys.  Such moneys shall be expended by the Director for 
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purposes
authorized by Section 1704.  Moneys in
this fund
shall 
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not be commingled
with other State funds, but they shall be 
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deposited as required by law and
maintained in a separate 
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account on the books of a savings and loan
association or bank.  
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The Governor shall determine when in his judgment the
amounts 
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accumulated in the Employment Security Administrative Fund are 
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in
excess of amounts needed for the proper administration of 
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this Act and
shall direct the State Treasurer to transfer such 
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excess amounts from the
Employment Security Administrative 
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Fund to this State's account in the
unemployment trust fund.

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    The State Treasurer shall be liable on his general official 
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bond for the
faithful performance of his duties as custodian of 
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the Employment Security
Administrative Fund.  Such liability on 
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his official bond shall exist in
addition to the liability upon 
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any separate bond given by him.  All sums
recovered for losses 
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sustained by the Employment Security Administrative
Fund shall 
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be deposited in the fund.

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    The Director shall annually on or before the first day of 
 


 






SB1770
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March report in
writing to the Employment Security Advisory 
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Board concerning the deposits
into and expenditures made from 
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the Employment Security Administrative Fund.

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    On July 1, 2005, or as soon thereafter as may be reasonably 
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practicable, all remaining funds in the Employment Security 
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Administrative Fund shall be transferred to the clearing 
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account, and, upon the transfer of such funds, the Employment 
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Security Administrative Fund is abolished.

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    This Section is repealed on January 1, 2006.

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(Source: P.A. 86-1367; 87-1178.)

 

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    Section 99. Effective date. This Act takes effect July 1, 
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2005.