Bill Amendment: IL SB2921 | 2017-2018 | 100th General Assembly

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: TREASURER-COLLEGE SAVINGS POOL

Status: 2018-11-28 - Bill Dead - Amendatory Veto [SB2921 Detail]

Download: Illinois-2017-SB2921-House_Amendment_001.html

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Rep. Emanuel Chris Welch

Filed: 5/29/2018

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AMENDMENT TO SENATE BILL 2921
AMENDMENT NO. ______. Amend Senate Bill 2921 by replacing
everything after the enacting clause with the following:
"Section 5. The State Treasurer Act is amended by adding
Section 30 as follows:
(15 ILCS 505/30 new)
Sec. 30. Purchase of real property.
(a) Subject to the provisions of the Public Contract Fraud
Act, the State Treasurer, on behalf of the State of Illinois,
is authorized during State fiscal year 2019 to purchase real
property located at 300 West Jefferson Street in Springfield,
Illinois, known as Jefferson Terrace (Parcel ID numbers:
14-28.0-457-008, -009, -010; 14-28.0-484-034, -035, -036, -
037, -038, -052, -055; 14-33.0-203-015) which the State
Treasurer deems necessary to properly carry out the powers and
duties vested in him or her.

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(b) Subject to the provisions of the Treasurer's
Procurement Rules, which shall be substantially in accordance
with the requirements of Illinois Procurement Code, the State
Treasurer may:
(1) enter into contracts relating to construction,
reconstruction, or renovation projects for any such
buildings or lands acquired under subsection (a); and
(2) equip, lease, operate, and maintain those grounds,
buildings, and facilities as may be appropriate to carry
out his or her statutory purposes and duties.
(c) The State Treasurer may enter into agreements with any
person with respect to the use and occupancy of the grounds,
buildings, and facilities of the State Treasurer, including
concession, license, and lease agreements on terms and
conditions as the State Treasurer determines and in accordance
with the procurement processes for the Office of the State
Treasurer, which shall be substantially in accordance with the
requirements of Illinois Procurement Code.
(d) The exercise of the authority vested in the State
Treasurer by this Section is subject to the appropriation of
the necessary funds.
Section 10. The State Finance Act is amended by changing
Section 8.12 as follows:
(30 ILCS 105/8.12) (from Ch. 127, par. 144.12)

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Sec. 8.12. State Pensions Fund.
(a) The moneys in the State Pensions Fund shall be used
exclusively for the administration of the Revised Uniform
Unclaimed Property Act and for the expenses incurred by the
Auditor General for administering the provisions of Section
2-8.1 of the Illinois State Auditing Act and for operational
expenses of the Office of the State Treasurer, including the
acquisition of land and buildings for use by the Office of the
State Treasurer, as well as construction, reconstruction,
improvement, repair, and maintenance, in accordance with the
provisions of laws relating thereto, of such lands and
buildings beginning in State fiscal year 2019 and for each
fiscal year thereafter, and for the funding of the unfunded
liabilities of the designated retirement systems. Beginning in
State fiscal year 2019, payments to the designated retirement
systems under this Section shall be in addition to, and not in
lieu of, any State contributions required under the Illinois
Pension Code.
"Designated retirement systems" means:
(1) the State Employees' Retirement System of
Illinois;
(2) the Teachers' Retirement System of the State of
Illinois;
(3) the State Universities Retirement System;
(4) the Judges Retirement System of Illinois; and
(5) the General Assembly Retirement System.

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(b) Each year the General Assembly may make appropriations
from the State Pensions Fund for the administration of the
Revised Uniform Unclaimed Property Act.
(c) As soon as possible after July 30, 2004 (the effective
date of Public Act 93-839) this amendatory Act of the 93rd
General Assembly, the General Assembly shall appropriate from
the State Pensions Fund (1) to the State Universities
Retirement System the amount certified under Section 15-165
during the prior year, (2) to the Judges Retirement System of
Illinois the amount certified under Section 18-140 during the
prior year, and (3) to the General Assembly Retirement System
the amount certified under Section 2-134 during the prior year
as part of the required State contributions to each of those
designated retirement systems; except that amounts
appropriated under this subsection (c) in State fiscal year
2005 shall not reduce the amount in the State Pensions Fund
below $5,000,000. If the amount in the State Pensions Fund does
not exceed the sum of the amounts certified in Sections 15-165,
18-140, and 2-134 by at least $5,000,000, the amount paid to
each designated retirement system under this subsection shall
be reduced in proportion to the amount certified by each of
those designated retirement systems.
(c-5) For fiscal years 2006 through 2018, the General
Assembly shall appropriate from the State Pensions Fund to the
State Universities Retirement System the amount estimated to be
available during the fiscal year in the State Pensions Fund;

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provided, however, that the amounts appropriated under this
subsection (c-5) shall not reduce the amount in the State
Pensions Fund below $5,000,000.
(c-6) For fiscal year 2019 and each fiscal year thereafter,
as soon as may be practical after any money is deposited into
the State Pensions Fund from the Unclaimed Property Trust Fund,
the State Treasurer shall apportion the deposited amount among
the designated retirement systems as defined in subsection (a)
to reduce their actuarial reserve deficiencies. The State
Comptroller and State Treasurer shall pay the apportioned
amounts to the designated retirement systems to fund the
unfunded liabilities of the designated retirement systems. The
amount apportioned to each designated retirement system shall
constitute a portion of the amount estimated to be available
for appropriation from the State Pensions Fund that is the same
as that retirement system's portion of the total actual reserve
deficiency of the systems, as determined annually by the
Governor's Office of Management and Budget at the request of
the State Treasurer. The amounts apportioned under this
subsection shall not reduce the amount in the State Pensions
Fund below $5,000,000.
(d) The Governor's Office of Management and Budget shall
determine the individual and total reserve deficiencies of the
designated retirement systems. For this purpose, the
Governor's Office of Management and Budget shall utilize the
latest available audit and actuarial reports of each of the

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retirement systems and the relevant reports and statistics of
the Public Employee Pension Fund Division of the Department of
Insurance.
(d-1) As soon as practicable after March 5, 2004 (the
effective date of Public Act 93-665) this amendatory Act of the
93rd General Assembly, the Comptroller shall direct and the
Treasurer shall transfer from the State Pensions Fund to the
General Revenue Fund, as funds become available, a sum equal to
the amounts that would have been paid from the State Pensions
Fund to the Teachers' Retirement System of the State of
Illinois, the State Universities Retirement System, the Judges
Retirement System of Illinois, the General Assembly Retirement
System, and the State Employees' Retirement System of Illinois
after March 5, 2004 (the effective date of Public Act 93-665)
this amendatory Act during the remainder of fiscal year 2004 to
the designated retirement systems from the appropriations
provided for in this Section if the transfers provided in
Section 6z-61 had not occurred. The transfers described in this
subsection (d-1) are to partially repay the General Revenue
Fund for the costs associated with the bonds used to fund the
moneys transferred to the designated retirement systems under
Section 6z-61.
(e) The changes to this Section made by Public Act 88-593
this amendatory Act of 1994 shall first apply to distributions
from the Fund for State fiscal year 1996.
(Source: P.A. 99-8, eff. 7-9-15; 99-78, eff. 7-20-15; 99-523,

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eff. 6-30-16; 100-22, eff. 1-1-18; 100-23, eff. 7-6-17; revised
8-8-17.)".
Section 99. Effective date. This Act takes effect upon
becoming law.".