Bill Text: IL HB1237 | 2021-2022 | 102nd General Assembly | Introduced
Bill Title: Amends the State Finance Act. Makes a technical change in a Section concerning special funds.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Introduced - Dead) 2021-04-23 - Rule 19(a) / Re-referred to Rules Committee [HB1237 Detail]
Download: Illinois-2021-HB1237-Introduced.html
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| 1 | AN ACT concerning finance.
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| 2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
| 3 | represented in the General Assembly:
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| 4 | Section 5. The State Finance Act is amended by changing | |||||||||||||||||||
| 5 | Section 5 as follows:
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| 6 | (30 ILCS 105/5) (from Ch. 127, par. 141)
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| 7 | Sec. 5. Special funds.
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| 8 | (a) There are special funds in the
the State Treasury | |||||||||||||||||||
| 9 | designated as
specified in the Sections which succeed this | |||||||||||||||||||
| 10 | Section 5 and precede Section 6. | |||||||||||||||||||
| 11 | (b) Except as provided in the Illinois Motor Vehicle Theft | |||||||||||||||||||
| 12 | Prevention and Insurance Verification
Act, when any special | |||||||||||||||||||
| 13 | fund in the State Treasury is discontinued by an Act
of the | |||||||||||||||||||
| 14 | General Assembly, any balance remaining therein on the | |||||||||||||||||||
| 15 | effective
date of such Act shall be transferred to the General | |||||||||||||||||||
| 16 | Revenue Fund, or to
such other fund as such Act shall provide. | |||||||||||||||||||
| 17 | Warrants outstanding against
such discontinued fund at the | |||||||||||||||||||
| 18 | time of the transfer of any such balance
therein shall be paid | |||||||||||||||||||
| 19 | out of the fund to which the transfer was made.
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| 20 | (c) When any special fund in the State Treasury has been | |||||||||||||||||||
| 21 | inactive
for 18 months or longer, the fund is automatically | |||||||||||||||||||
| 22 | terminated by operation
of law and the balance remaining in | |||||||||||||||||||
| 23 | such fund shall be transferred by the
Comptroller to the | |||||||||||||||||||
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| 1 | General Revenue Fund. When a special fund has been
terminated | ||||||
| 2 | by operation of law as provided in this Section, the General
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| 3 | Assembly shall repeal or amend all Sections of the statutes | ||||||
| 4 | creating or
otherwise referring to that fund.
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| 5 | The Comptroller shall be allowed the discretion to | ||||||
| 6 | maintain or dissolve
any federal trust fund which has been | ||||||
| 7 | inactive for 18 months or longer.
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| 8 | (d) (Blank).
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| 9 | (e) (Blank).
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| 10 | (Source: P.A. 100-373, eff. 1-1-18.)
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