093_HB2956eng

 
HB2956 Engrossed                     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
 
HB2956 Engrossed            -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.