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| | 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
SB2976 Introduced 1/27/2026, by Sen. Michael W. Halpin SYNOPSIS AS INTRODUCED:
| | | Amends the State Treasurer Act. Provides that the State Treasurer may bring a claim against a warrantor of a draft for breach of a presentment warranty to recover State funds in accordance with the Uniform Commercial Code. Provides that a claim brought by the State Treasurer is not subject to the limitations provided for in those provisions of the Uniform Commercial Code. Provides that the amendatory changes are declaratory of existing law. Effective immediately. |
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| | A BILL FOR |
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| | SB2976 | | LRB104 17331 SPS 30755 b |
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| 1 | | AN ACT concerning State government.
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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 Treasurer Act is amended by adding |
| 5 | | Section 11.5 as follows:
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| 6 | | (15 ILCS 505/11.5 new) |
| 7 | | Sec. 11.5. Recovery for breach of presentment warranties. |
| 8 | | The Treasurer may bring a claim against a warrantor of a draft |
| 9 | | for breach of a presentment warranty to recover State funds in |
| 10 | | accordance with Sections 3-417 and 4-208 of the Uniform |
| 11 | | Commercial Code. However, a claim brought by the Treasurer |
| 12 | | under those Sections is not subject to the limitations |
| 13 | | provided for in subsection (e) of Section 3-417 or subsection |
| 14 | | (e) of Section 4-208 of the Uniform Commercial Code. The |
| 15 | | changes made by this amendatory Act of the 104th General |
| 16 | | Assembly are declaratory of existing law.
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| 17 | | Section 99. Effective date. This Act takes effect upon |
| 18 | | becoming law. |