HB6299eng 96TH GENERAL ASSEMBLY

HB6299 Engrossed LRB096 20869 RCE 36644 b

AN ACT concerning finance.

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

Section 5. The State Finance Act is amended by adding Sections 5.756 and 6z-82 as follows:

(30 ILCS 105/5.756 new)

Sec. 5.756. The East St. Louis Financial Advisory Authority Trust Fund.

(30 ILCS 105/6z-82 new)

Sec. 6z-82. East St. Louis Financial Advisory Authority Trust Fund. The East St. Louis Financial Advisory Authority Trust Fund is created as a special trust fund in the State treasury. The East St. Louis Financial Advisory Authority may deposit moneys into the Fund. All income earned on moneys in the Fund shall be deposited into the Fund. The East St. Louis Financial Advisory Authority may expend moneys in the Fund for any legal expense of the Authority, including without limitation personnel costs of its employees, who shall be deemed State employees for purposes of the Illinois Pension Code and the State Employees Group Insurance Act of 1971. The Fund is not subject to appropriation.

Section 99. Effective date. This Act takes effect upon becoming law.