Bill Text: IL SB0042 | 2017-2018 | 100th General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the State Finance Act. Makes a technical change in a Section concerning special funds.
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Passed) 2017-07-06 - Public Act . . . . . . . . . 100-0023 [SB0042 Detail]
Download: Illinois-2017-SB0042-Introduced.html
Bill Title: Amends the State Finance Act. Makes a technical change in a Section concerning special funds.
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Passed) 2017-07-06 - Public Act . . . . . . . . . 100-0023 [SB0042 Detail]
Download: Illinois-2017-SB0042-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
Act, when any special fund in the State Treasury is | |||||||||||||||||||
| 13 | discontinued by an Act
of the General Assembly, any balance | |||||||||||||||||||
| 14 | remaining therein on the effective
date of such Act shall be | |||||||||||||||||||
| 15 | transferred to the General Revenue Fund, or to
such other fund | |||||||||||||||||||
| 16 | as such Act shall provide. Warrants outstanding against
such | |||||||||||||||||||
| 17 | discontinued fund at the time of the transfer of any such | |||||||||||||||||||
| 18 | balance
therein shall be paid out of the fund to which the | |||||||||||||||||||
| 19 | 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 maintain | ||||||
| 6 | or dissolve
any federal trust fund which has been inactive for | ||||||
| 7 | 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. 90-372, eff. 7-1-98.)
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