SB0428 96TH GENERAL ASSEMBLY

LRB096 06449 RCE 16533 b

96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB0428

Introduced 2/6/2009, by Sen. John J. Cullerton

SYNOPSIS AS INTRODUCED:

30 ILCS 105/5e

from Ch. 127, par. 141e

Amends the State Finance Act. Makes a technical change in a Section concerning the Road Fund.

A BILL FOR

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 changing Section 5e as follows:

(30 ILCS 105/5e) (from Ch. 127, par. 141e)

Sec. 5e. The The Governor, in his discretion, when he deems it necessary for payments of the State's obligations, may authorize transfers from the Road Fund to the State Construction Account Fund. Any amount so transferred shall be retransferred from the State Construction Account Fund to the Road Fund by the end of the fiscal year in which the transfer was made. The transfers out of the Road Fund shall not exceed $35,000,000 in any fiscal year. No transfers from the Road Fund which impair the obligations of the State shall be authorized. The Comptroller and the Treasurer, upon receipt of authorization from the Governor, shall make transfers in accordance with this Section. In the event the Governor fails to authorize the retransfer into the Road Fund as required by this Section, the Comptroller and the Treasurer shall make such retransfer.

(Source: P.A. 84-431.)