Illinois General Assembly - Illinois Compiled Statutes

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50 ILCS 320/12

(50 ILCS 320/12) (from Ch. 85, par. 7212)

Sec. 12. Expenses incurred by commission.

Any expense or obligation
incurred by the financial planning and supervision commission under this
Act shall be payable solely from appropriations made for that purpose by the
General Assembly.

The commission is authorized to maintain monies appropriated for its use
in a local account for such purposes to be held outside the State Treasury.
Disbursements from this account shall require the approval and signatures
of the chairman of the commission and the treasurer of the commission.
The commission shall be authorized to request the State Comptroller and
State Treasurer to issue State warrants against appropriations made for its
use, in anticipation of commission expenses, for deposit into the local
account.

The compensation and expenses of a financial advisor retained by the
commission shall be paid from monies appropriated to the Department of
Commerce and Economic Opportunity for that purpose.  Those appropriations
shall only be committed, obligated, and expended by the Department of
Commerce and Economic Opportunity as the result of an order signed by the
chairman of the commission identifying the selected "financial advisor"
pursuant to subsection (c) of Section 6 of this Act and stating the maximum
compensation awarded to the financial advisor under the contract.  A copy
of the order shall be filed with the State Comptroller prior to any
disbursement of funds.

(Source: P.A. 94-793, eff. 5-19-06.)