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| 1 | AN ACT concerning finance. | |||||||||||||||||||
| 2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
| 3 | represented in the General Assembly: | |||||||||||||||||||
| 4 | Section 5. The State Finance Act is amended by changing | |||||||||||||||||||
| 5 | Section 8.25c as follows: | |||||||||||||||||||
| 6 | (30 ILCS 105/8.25c) (from Ch. 127, par. 144.25c) | |||||||||||||||||||
| 7 | Sec. 8.25c. Adeline Jay Geo-Karis Illinois Beach Marina | |||||||||||||||||||
| 8 | Fund. | |||||||||||||||||||
| 9 | (a) Revenue from the North Point Marina State Recreation | |||||||||||||||||||
| 10 | Area shall be deposited into the Adeline Jay Geo-Karis | |||||||||||||||||||
| 11 | Illinois Beach Marina Fund. In addition, the Adeline Jay | |||||||||||||||||||
| 12 | Geo-Karis Illinois Beach Marina Fund may receive moneys from | |||||||||||||||||||
| 13 | the General Revenue Fund and from any other lawful source. | |||||||||||||||||||
| 14 | Beginning in fiscal year 1991 and continuing through the third | |||||||||||||||||||
| 15 | quarter of fiscal year 1993, the State Comptroller shall order | |||||||||||||||||||
| 16 | transferred and the State Treasurer shall transfer from the | |||||||||||||||||||
| 17 | Illinois Beach Marina Fund (now known as the Adeline Jay | |||||||||||||||||||
| 18 | Geo-Karis Illinois Beach Marina Fund) to the General Revenue | |||||||||||||||||||
| 19 | Fund 50% of the revenue deposited into the Illinois Beach | |||||||||||||||||||
| 20 | Marina Fund. Beginning in the fourth quarter of fiscal year | |||||||||||||||||||
| 21 | 1993 and thereafter until the sum of $31,200,000 is paid to the | |||||||||||||||||||
| 22 | General Revenue Fund, the State Comptroller shall order | |||||||||||||||||||
| 23 | transferred and the State Treasurer shall transfer from the | |||||||||||||||||||
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| 1 | Adeline Jay Geo-Karis Illinois Beach Marina Fund (formerly | ||||||
| 2 | known as the Illinois Beach Marina Fund) to the General | ||||||
| 3 | Revenue Fund 35% of revenue deposited into the Adeline Jay | ||||||
| 4 | Geo-Karis Illinois Beach Marina Fund (formerly known as the | ||||||
| 5 | Illinois Beach Marina Fund) in any fiscal year. In addition, | ||||||
| 6 | beginning in fiscal year 1991 and thereafter until the sum of | ||||||
| 7 | $8,000,000 is paid to the State Boating Act Fund the State | ||||||
| 8 | Comptroller shall order transferred and the State Treasurer | ||||||
| 9 | shall transfer from the Adeline Jay Geo-Karis Illinois Beach | ||||||
| 10 | Marina Fund (formerly known as the Illinois Beach Marina Fund) | ||||||
| 11 | to the State Boating Act Fund 15% of the revenue deposited into | ||||||
| 12 | the Adeline Jay Geo-Karis Illinois Beach Marina Fund (formerly | ||||||
| 13 | known as the Illinois Beach Marina Fund). Beginning in fiscal | ||||||
| 14 | year 1992, the transfers from the Adeline Jay Geo-Karis | ||||||
| 15 | Illinois Beach Marina Fund (formerly known as the Illinois | ||||||
| 16 | Beach Marina Fund) to the State Boating Act Fund shall be made | ||||||
| 17 | only at the direction of and in the amount authorized by the | ||||||
| 18 | Department of Natural Resources. Moneys transferred under | ||||||
| 19 | authorization of this Section to the State Boating Act Fund in | ||||||
| 20 | fiscal year 1992 before the effective date of this amendatory | ||||||
| 21 | Act of 1991 may be transferred to the Illinois Beach Marina | ||||||
| 22 | Fund (now known as the Adeline Jay Geo-Karis Illinois Beach | ||||||
| 23 | Marina Fund) at the direction of the Department of Natural | ||||||
| 24 | Resources. The transfers required under this Section shall be | ||||||
| 25 | made within 30 days after the end of each quarter based on the | ||||||
| 26 | State Comptroller's record of receipts for the quarter. The | ||||||
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| 1 | initial transfers shall be made within 30 days after June 30, | ||||||
| 2 | 1990 based on revenues received in the preceding quarter. | ||||||
| 3 | Additional transfers in excess of the limits established under | ||||||
| 4 | this Section may be authorized by the Department of Natural | ||||||
| 5 | Resources for accelerated payback of the amount due. | ||||||
| 6 | (b) The Department may, subject to appropriations by the | ||||||
| 7 | General Assembly, use moneys in the Adeline Jay Geo-Karis | ||||||
| 8 | Illinois Beach Marina Fund (formerly known as the Illinois | ||||||
| 9 | Beach Marina Fund) only for purposes related to the North | ||||||
| 10 | Point Marina State Recreation Area in Lake County. to pay for | ||||||
| 11 | operation, maintenance, repairs, or improvements to the marina | ||||||
| 12 | project; provided, however, that payment of the amounts due | ||||||
| 13 | under the terms of subsection (a) shall have priority on all | ||||||
| 14 | moneys deposited in this Fund. | ||||||
| 15 | (c) Moneys on deposit in excess of the amounts necessary | ||||||
| 16 | for expenditures under subsection (b) that needed for payments | ||||||
| 17 | to the General Revenue Fund and the State Boating Act Fund and | ||||||
| 18 | in excess of those moneys needed for the operation, | ||||||
| 19 | maintenance, repairs, or improvements to the Adeline Jay | ||||||
| 20 | Geo-Karis Illinois Beach Marina as determined by the | ||||||
| 21 | Department of Natural Resources may be transferred at the | ||||||
| 22 | discretion of the Department to the State Parks Fund. | ||||||
| 23 | (Source: P.A. 95-522, eff. 8-28-07; 96-1160, eff. 1-1-11.) | ||||||