Sen. Donne E. Trotter

Filed: 4/2/2008





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2     AMENDMENT NO. ______. Amend House Bill 473, AS AMENDED, by
3 replacing everything after the enacting clause with the
4 following:
5     "Section 5. If and only if House Bill 3860 and House Bill
6 315 of the 95th General Assembly become law, the State Finance
7 Act is amended by adding Section 8.46 as follows:
8     (30 ILCS 105/8.46 new)
9     Sec. 8.46. Transfers to the General Revenue Fund.
10     (a) Notwithstanding any other State law to the contrary and
11 except as otherwise provided in this Section, the Governor may,
12 through June 30, 2008, from time to time direct the State
13 Treasurer and State Comptroller to transfer sums specified by
14 the Governor up to a total sum of $530,000,000 from any fund or
15 funds held by the State Comptroller and State Treasurer to the
16 General Revenue Fund in order to help reduce the State's fiscal



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1 deficit and preserve the State's ability to meet all of its
2 fiscal obligations. In determining the amount of the transfer
3 to the General Revenue Fund, the Governor shall calculate
4 whether the available resources in the fund are sufficient to
5 satisfy the unexpended and unreserved appropriations from the
6 fund for the fiscal year. No transfer may be made from a fund
7 under this Section that would have the effect of reducing the
8 available balance in the fund to an amount less than the amount
9 remaining unexpended and unreserved from the total
10 appropriation from that fund estimated to be expended for that
11 fiscal year. This Section does not apply to any funds that are
12 restricted by federal law to a specific use or are used
13 primarily for the repayment of State indebtedness.
14     In calculating the available resources in a fund, the
15 Governor may include receipts, transfers into the fund, and
16 other resources anticipated to be available in the fund in that
17 fiscal year.
18     The State Treasurer and State Comptroller shall transfer
19 the amounts designated under this Section as soon as may be
20 practicable after receiving the direction to transfer from the
21 Governor.
22     (b) On and after the effective date of this Section and
23 through June 30, 2008, when any of the funds subject to the
24 transfers made pursuant to subsection (a) have insufficient
25 cash from which the State Comptroller may make expenditures
26 properly supported by appropriations from the fund, the



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1 Governor may direct the State Comptroller and the State
2 Treasurer to reverse the transfers previously authorized by
3 subsection (a) to the General Revenue Fund and retransfer from
4 the General Revenue Fund, if applicable, all or a portion of
5 the transfers made pursuant to subsection (a). The Governor may
6 further direct from time to time that all or a portion of the
7 amounts transferred from the General Revenue Fund to a fund
8 pursuant to this subsection (b) be re-transferred by the State
9 Comptroller and the State Treasurer from the receiving fund
10 into the General Revenue Fund as soon as and to the extent that
11 deposits are made into or receipts are collected by the
12 receiving fund.
13     Section 99. Effective date. This Act takes effect upon
14 becoming law.".