Illinois General Assembly - Full Text of SB2602

SDS104 00017 JMS 10017 b

104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
SB2602

Introduced 2/25/2025, by Sen. Elgie R. Sims, Jr.

SYNOPSIS AS INTRODUCED:

Appropriates specified amounts from various funds to the State Treasurer for specified purposes. Effective July 1, 2025.

AN ACT concerning appropriations.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

ARTICLE 1

Section 5. The sum of $17,238,400, or so much of that sum as may be necessary, is appropriated from the State Treasurer's Administrative Fund to the Office of the State Treasurer to meet its operational expenses for the fiscal year ending June 30, 2026.

Section 10. The sum of $1,000,000, or so much of that sum as may be necessary, is appropriated from the General Revenue Fund to the State Treasurer for the purpose of making refunds of accrued interest on protested tax cases.

Section 15. The sum of $26,225,000, or so much of that sum as may be necessary, is appropriated from the State Pensions Fund to the Office of the State Treasurer to meet its operational expenses for the fiscal year ending June 30, 2026.

Section 20. The sum of $10,035,270, or so much of that sum as may be necessary, is appropriated from the State Treasurer's Bank Services Trust Fund to the State Treasurer for the operational expenses authorized under the State Treasurer's Bank Services Trust Fund Act.

Section 25. The following amounts, or so much of those amounts as may be necessary, respectively, for the objects and purposes named in this Section, are appropriated to the State Treasurer for the payment of interest on and retirement of State bonded indebtedness:

For payment of principal and interest on any and all bonds issued pursuant to the Anti-Pollution Bond Act, the Transportation Bond Act, the Capital Development Bond Act of 1972, the School Construction Bond Act, the Illinois Coal and Energy Development Bond Act, and the General Obligation Bond Act: From the General Obligation Bond Retirement and Interest Fund:

Principal...................................$2,370,028,488

Interest....................................$1,361,536,952

Total $3,731,565,440

Section 30. The sum of $1,000,000, or so much of that sum as may be necessary, is appropriated from the General Obligation Bond Rebate Fund to the State Treasurer for the purpose of making arbitrage rebate payments to the United States government.

Section 35. The sum of $1,000,000, or so much of that sum as may be necessary, is appropriated from the Charitable Trust Stabilization Fund to the State Treasurer for the State Treasurer's operational costs to administer the Charitable Trust Stabilization Fund and for grants to public and private entities in the State for the purposes set out in the Charitable Trust Stabilization Act.

Section 40. The sum of $500,000, or so much of that sum as may be necessary, is appropriated from the State Treasurer's Capital Fund for the construction, reconstruction, renovation, repair, operation, and maintenance of the buildings, grounds, and facilities of the State Treasurer.

Section 45. The sum of $2,500,000, or so much of that sum as may be necessary, is appropriated from the Illinois Higher Education Savings Program Fund to the Office of the State Treasurer for the Illinois Higher Education Savings Program.

ARTICLE 999

Section 99. Effective date. This Act takes effect July 1, 2025.