Illinois General Assembly - Full Text of Public Act 094-0232
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Public Act 094-0232


 

Public Act 0232 94TH GENERAL ASSEMBLY



 


 
Public Act 094-0232
 
SB1770 Enrolled LRB094 03706 WGH 33711 b

    AN ACT concerning unemployment insurance.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Unemployment Insurance Act is amended by
changing Section 2103.1 as follows:
 
    (820 ILCS 405/2103.1)  (from Ch. 48, par. 663.1)
    Sec. 2103.1. Employment Security Administrative Fund.
    There is hereby established the Employment Security
Administrative Fund. Notwithstanding any other provision of
this Act, all amounts received pursuant to subsection B of
Section 1506.3 shall be deposited in the Employment Security
Administrative Fund held by the State Treasurer as ex-officio
custodian thereof separate and apart from all other State
moneys. Such moneys shall be expended by the Director for
purposes authorized by Section 1704. Moneys in this fund shall
not be commingled with other State funds, but they shall be
deposited as required by law and maintained in a separate
account on the books of a savings and loan association or bank.
The Governor shall determine when in his judgment the amounts
accumulated in the Employment Security Administrative Fund are
in excess of amounts needed for the proper administration of
this Act and shall direct the State Treasurer to transfer such
excess amounts from the Employment Security Administrative
Fund to this State's account in the unemployment trust fund.
    The State Treasurer shall be liable on his general official
bond for the faithful performance of his duties as custodian of
the Employment Security Administrative Fund. Such liability on
his official bond shall exist in addition to the liability upon
any separate bond given by him. All sums recovered for losses
sustained by the Employment Security Administrative Fund shall
be deposited in the fund.
    The Director shall annually on or before the first day of
March report in writing to the Employment Security Advisory
Board concerning the deposits into and expenditures made from
the Employment Security Administrative Fund.
    On July 1, 2005, or as soon thereafter as may be reasonably
practicable, all remaining funds in the Employment Security
Administrative Fund shall be transferred to the clearing
account, and, upon the transfer of such funds, the Employment
Security Administrative Fund is abolished.
    This Section is repealed on January 1, 2006.
(Source: P.A. 86-1367; 87-1178.)
 
    Section 99. Effective date. This Act takes effect July 1,
2005.

Effective Date: 7/14/2005