093_HB2956
LRB093 03672 SJM 03702 b
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. (a) Beginning in fiscal year 1991 and
8 continuing through the third quarter of fiscal year 1993, the
9 State Comptroller shall order transferred and the State
10 Treasurer shall transfer from the Illinois Beach Marina Fund
11 to the General Revenue Fund 50% of the revenue deposited into
12 the Illinois Beach Marina Fund. Beginning in the fourth
13 quarter of fiscal year 1993 and thereafter until the sum of
14 $31,200,000 is paid to the General Revenue Fund, the State
15 Comptroller shall order transferred and the State Treasurer
16 shall transfer from the Illinois Beach Marina Fund to the
17 General Revenue Fund 25% of the first $2,000,000 of revenue
18 deposited into the Illinois Beach Marina Fund in any fiscal
19 year, and 75% of the revenue deposited into the Illinois
20 Beach Marina Fund in excess of $2,000,000 in any fiscal year;
21 however, such transfers shall not exceed $1,000,000
22 $2,000,000 in any fiscal year. In addition, beginning in
23 fiscal year 1991 and thereafter until the sum of $8,000,000
24 is paid to the State Boating Act Fund the State Comptroller
25 shall order transferred and the State Treasurer shall
26 transfer from the Illinois Beach Marina Fund to the State
27 Boating Act Fund 15% of the revenue deposited into the
28 Illinois Beach Marina Fund. Beginning in fiscal year 1992,
29 the transfers from the Illinois Beach Marina Fund to the
30 State Boating Act Fund shall be made only at the direction of
31 and in the amount authorized by the Department of Natural
-2- LRB093 03672 SJM 03702 b
1 Resources. Moneys transferred under authorization of this
2 Section to the State Boating Act Fund in fiscal year 1992
3 before the effective date of this amendatory Act of 1991 may
4 be transferred to the Illinois Beach Marina Fund at the
5 direction of the Department of Natural Resources. The
6 transfers required under this Section shall be made within 30
7 days after the end of each quarter based on the State
8 Comptroller's record of receipts for the quarter. The
9 initial transfers shall be made within 30 days after June 30,
10 1990 based on revenues received in the preceding quarter.
11 Additional transfers in excess of the limits established
12 under this Section may be authorized by the Department of
13 Natural Resources for accelerated payback of the amount due.
14 (b) The Department may, subject to appropriations by the
15 General Assembly, use monies in the Illinois Beach Marina
16 Fund to pay for operation, maintenance, repairs, or
17 improvements to the marina project; provided, however, that
18 payment of the amounts due under the terms of subsection (a)
19 shall have priority on all monies deposited in this Fund.
20 (c) Monies on deposit in excess of that needed for
21 payments to the General Revenue Fund and the State Boating
22 Fund and in excess of those monies needed for the operation,
23 maintenance, repairs, or improvements to the Illinois Beach
24 Marina as determined by the Department of Natural Resources
25 may be transferred at the discretion of the Department to
26 the State Parks Fund.
27 (Source: P.A. 88-130; 89-445, eff. 2-7-96.)
28 Section 99. Effective date. This Act takes effect on
29 July 1, 2003.