Rep. Barbara Flynn Currie
Filed: 11/12/2010
 
 

 

 

 
09600HB1511ham001LRB096 04927 PJG 43815 a



1
AMENDMENT TO HOUSE BILL 1511 




2    AMENDMENT NO. ______. Amend House Bill 1511 by replacing 
3everything after the enacting clause with the following:


 
 
4    "Section 5. The State Finance Act is amended  by adding 
5Section 8q as follows:
 
6    (30 ILCS 105/8q new)
7    Sec. 8q. Illinois Department of Financial and Professional 
8Regulation funds;  interfund transfers.  In order to address the 
9fiscal emergency within the Illinois Department of Financial 
10and Professional Regulation resulting from inadequate cash 
11flows in certain funds, on and after the effective date of this 
12amendatory Act of the 96th General Assembly and through June 
1330, 2011, when any fund supporting the oversight or regulation 
14of an industry or profession that is subject to the authority 
15of the Illinois Department of Financial and Professional 
16Regulation has insufficient cash from which the State 
 
 
09600HB1511ham001- 2 -LRB096 04927 PJG 43815 a

1Comptroller may make expenditures properly supported by 
2appropriations from the fund, the State Treasurer and State 
3Comptroller shall   transfer, as directed by the Governor, to 
4that fund from any other fund subject to Illinois Department of 
5Financial and Professional Regulation administration and 
6identified by the Governor's Office of Management and Budget as 
7having sufficient cash flow to sustain the transfer, an amount 
8as is immediately necessary to satisfy outstanding expenditure 
9obligations on a timely basis, subject to the provisions of the 
10State Prompt Payment Act.  These transfers shall be made 
11notwithstanding any other provision of State law to the 
12contrary.  Any moneys transferred pursuant to this Section shall 
13be repaid to the fund of origin within 18 months after the date 
14on which they were borrowed.
 
 
15    Section 99. Effective date. This Act takes effect upon 
16becoming law.".