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SB0790 Engrossed |
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LRB095 05455 RCE 25545 b |
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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 1. Short title. This amendatory Act of the 95th |
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| General Assembly may be cited as the Federal Transfer |
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| Maximization Law of 2008.
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| Section 5. The State Finance Act is amended by adding |
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| Section 8.46 as follows:
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| (30 ILCS 105/8.46 new) |
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| Sec. 8.46. Transfers to the General Revenue Fund. |
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| (a) Notwithstanding any other State law to the contrary and |
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| except as otherwise provided in this Section, the Governor may, |
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| beginning on July 1, 2008 and through June 30, 2009, from time |
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| to time direct the State Treasurer and State Comptroller to |
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| transfer sums specified by the Governor up to a total sum of |
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| $530,000,000 from any fund or funds held by the State |
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| Comptroller and State Treasurer to the General Revenue Fund in |
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| order to help reduce the State's fiscal deficit and preserve |
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| the State's ability to meet all of its fiscal obligations. The |
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| sums transferred by the Governor to the General Revenue Fund |
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| under this Section may be used only to pay Medicaid |
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| obligations, State financial obligations that secure federal |
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LRB095 05455 RCE 25545 b |
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| funds, or obligations of the State Board of Education. In |
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| determining the amount of the transfer to the General Revenue |
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| Fund, the Governor shall calculate whether the available |
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| resources in the fund are sufficient to satisfy the unexpended |
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| and unreserved appropriations from the fund for the fiscal |
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| year. No transfer may be made from a fund under this Section |
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| that would have the effect of reducing the available balance in |
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| the fund to an amount less than the amount remaining unexpended |
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| and unreserved from the total appropriation from that fund |
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| estimated to be expended for that fiscal year. This Section |
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| does not apply to any funds that are restricted by federal law |
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| to a specific use or are used primarily for the repayment of |
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| State indebtedness. |
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| In calculating the available resources in a fund, the |
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| Governor may include receipts, transfers into the fund, and |
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| other resources anticipated to be available in the fund in that |
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| fiscal year. |
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| The State Treasurer and State Comptroller shall transfer |
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| the amounts designated under this Section as soon as may be |
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| practicable after receiving the direction to transfer from the |
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| Governor. |
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| (b) On and after July 1, 2008 and through June 30, 2009, |
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| when any of the funds subject to the transfers made pursuant to |
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| subsection (a) have insufficient cash from which the State |
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| Comptroller may make expenditures properly supported by |
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| appropriations from the fund, the Governor may direct the State |
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LRB095 05455 RCE 25545 b |
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| Comptroller and the State Treasurer to reverse the transfers |
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| previously authorized by subsection (a) to the General Revenue |
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| Fund and retransfer from the General Revenue Fund, if |
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| applicable, all or a portion of the transfers made pursuant to |
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| subsection (a). The Governor may further direct from time to |
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| time that all or a portion of the amounts transferred from the |
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| General Revenue Fund to a fund pursuant to this subsection (b) |
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| be re-transferred by the State Comptroller and the State |
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| Treasurer from the receiving fund into the General Revenue Fund |
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| as soon as and to the extent that deposits are made into or |
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| receipts are collected by the receiving fund. |
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| (c) No transfers may be made under this Section to the |
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| General Revenue Fund from any of the following funds: |
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| (1) The Road Fund. |
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| (2) The Open Space Lands Acquisition and Development |
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| Fund (OSLAD). |
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| (3) Metabolic Screening and Treatment Fund. |
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| (4) The Illinois Veterans' Homes Fund. |
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| (5) The Illinois Veterans Assistance Fund. |
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| (6) The LaSalle Veterans Home Fund. |
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| (7) The Anna Veterans Home Fund. |
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| (8) The GI Education Fund. |
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| (9) The Quincy Veterans Home Fund. |
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| (10) The Illinois Military Family Relief Fund. |
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| (11) The Veterans' Affairs Federal Projects Fund. |
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| (12) The Manteno Veterans Home Fund. |
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| (13) The Veterans' Affairs Library Grant Fund. |
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| (14) The Veterans' Affairs State Projects Fund. |
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| (15) The Military Affairs Trust Fund. |
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| (16) The Federal Support Agreement Revolving Fund. |
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| (17) The Illinois Veterans' Rehabilitation Fund. |
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| (18) The Armory Rental Fund. |
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| (19) The State Construction Account Fund. |
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| (20) The Motor Fuel Tax Fund. |
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| (21) The Teachers' Health Insurance Security Fund. |
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| (22) College Savings Pool Administrative Trust Fund. |
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| (23) State Pensions Fund. |
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| (24) Community College Health Insurance Security Fund. |
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| (25) Downstate Public Transportation Fund. |
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| (26) Regional Transportation Authority Occupation and |
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| Use Tax Replacement Fund. |
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| (27) The Cycle Rider Safety Training Fund. |
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| (28) The Public Transportation Fund. |
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| (29) The Rental Housing Support Program Fund.
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law. |