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| Public Act 097-0722 | ||||
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AN ACT concerning finance.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The State Finance Act is amended by changing | ||||
Section 6p-3 as follows:
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(30 ILCS 105/6p-3) (from Ch. 127, par. 142p3)
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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
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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.
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(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 | ||||
be transferred and deposited into the
General Revenue Fund.
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(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.
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(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.
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(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.
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(Source: P.A. 85-1197.)
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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