Bill Text: IL SB3286 | 2011-2012 | 97th General Assembly | Introduced

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Bill Title: Amends the State Finance Act. Provides that, if at the end of the lapse period the balance in the State Surplus Property Revolving Fund exceeds the amount of $1,000,000 (now, $500,000), all monies in excess of that amount shall be transferred and deposited into the General Revenue Fund. Effective immediately.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2013-01-08 - Session Sine Die [SB3286 Detail]

Download: Illinois-2011-SB3286-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 SB3286 Introduced 2/7/2012, by Sen. Dan Kotowski SYNOPSIS AS INTRODUCED:
30 ILCS 105/6p-3 from Ch. 127, par. 142p3
Amends the State Finance Act. Provides that, if at the end of the lapse period the balance in the State Surplus Property Revolving Fund exceeds the amount of $1,000,000 (now, $500,000), all monies in excess of that amount shall be transferred and deposited into the General Revenue Fund. Effective immediately.
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FISCAL NOTE ACT MAY APPLY
A BILL FOR
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AN ACT concerning finance.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The State Finance Act is amended by changing
Section 6p-3 as follows:
(30 ILCS 105/6p-3) (from Ch. 127, par. 142p3)
Sec. 6p-3. (a) The State Surplus Property Revolving Fund
shall be initially financed by a transfer of funds from the
General Revenue Fund. Thereafter all fees and other monies
received by the Department of Central Management Services from
the sale or transfer of surplus or transferable property
pursuant to the "State Property Control Act" and "An Act to
create and establish a State Agency for Federal Surplus
Property, to prescribe its powers, duties and functions",
approved August 2, 1965, as amended, shall be paid into the
State Surplus Property Revolving Fund. Except as provided in
paragraph (e) of this Section, the money in this fund shall be
used by the Department of Central Management Services as
reimbursement for expenditures incurred in relation to the sale
of surplus or transferable property.
(b) If at the end of the lapse period the balance in the
State Surplus Property Revolving Fund exceeds the amount of
$1,000,000 $500,000, all monies in excess of that amount shall

SB3286 - 2 - LRB097 15968 PJG 61118 b
be transferred and deposited into the General Revenue Fund.
(c) Provided, however, that the fund established by this
Section shall contain a separate account for the deposit of all
proceeds resulting from the sale of Federal surplus property,
and the proceeds of this separate account shall be used solely
to reimburse the Department of Central Management Services for
expenditures incurred in relation to the sale of Federal
surplus property.
(d) Any funds on deposit in the State Agency for Surplus
Property Utilization Fund on the effective date of this
amendatory Act of 1983 shall be transferred to the Federal
account of the State Surplus Property Revolving Fund.
(e) Revenues received from the sale of wastepaper through
paper recycling programs shall be placed into a separate
account in the Fund and shall be used to offset costs to the
Department of establishing and operating wastepaper recycling
programs. At the end of each calendar quarter, any amounts in
the separate account that have not been used or designated for
use shall be transferred to the Paper and Printing Revolving
Fund.
(Source: P.A. 85-1197.)
Section 99. Effective date. This Act takes effect upon
becoming law.