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92_HB3203 LRB9200725MWpk 1 AN ACT concerning development. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Department of Commerce and Community 5 Affairs Law of the Civil Administrative Code of Illinois is 6 amended by changing Section 605-420 as follows: 7 (20 ILCS 605/605-420) (was 20 ILCS 605/46.75) 8 Sec. 605-420.FederalWorkforce, Technology, and Economic 9 Development Fund. 10 (a) The Department may accept gifts, grants, awards, 11 matching contributions, interest income, appropriations, and 12 cost sharings from individuals, businesses, governments, and 13 other third-party sources, on terms that the Director deems 14 advisable, for any or all of the following purposes: 15 (1) (Blank)to assist recipients, including16recipients under the Temporary Assistance to Needy17Families (TANF) program, to obtain and retain employment18and become economically self-sufficient; 19 (2) to assist economically disadvantaged and other 20 youth to make a successful transition from school to 21 work;and22 (3) to assist other individuals targeted for 23 services through education, training, and workforce 24 development programs to obtain employment-related skills 25 and obtain employment;.26 (4) to identify, develop, commercialize, or promote 27 technology within the State; and 28 (5) to promote economic development within the 29 State. 30 (b) TheFederalWorkforce, Technology, and Economic 31 Development Fund is created as a special fund in the State -2- LRB9200725MWpk 1 Treasury. On September 1, 2000, or as soon thereafter as may 2 be reasonably practicable, the State Comptroller shall 3 transfer from theFederal Workforce DevelopmentFund into the 4 Title III Social Security and Employment Fund all moneys that 5 were received for the purposes of Section 403(a)(5) of the 6 federal Social Security Act and remain unobligated on that 7 date. Beginning on the effective date of this amendatory Act 8 of the 92nd91stGeneral Assembly, all moneys received under 9 this Section for the purposes of Section 403(a)(5) of the 10 federal Social Security Act, except moneys that may be 11 necessary to pay liabilities outstanding as of June 30, 2000, 12 shall be deposited into the Title III Social Security and 13 Employment Fund, and all other moneys received under this 14 Section shall be deposited into theFederalWorkforce, 15 Technology, and Economic Development Fund. 16 Moneys received under this Section may be expended for 17 purposes consistent with the conditions under which those 18 moneys are received, subject to appropriations made by the 19 General Assembly for those purposes. 20 (Source: P.A. 91-34, eff. 7-1-99; 91-704, eff. 7-1-00.) 21 Section 10. The State Finance Act is amended by 22 renumbering and changing Section 5.490, added by Public Act 23 91-34, as follows: 24 (30 ILCS 105/5.493) 25 Sec. 5.493.5.490.TheFederalWorkforce, Technology, 26 and Economic Development Fund. 27 (Source: P.A. 91-34, eff. 7-1-99; revised 11-12-99.) 28 Section 99. Effective date. This Act takes effect upon 29 becoming law.