97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB3286
 
Introduced 2/7/2012, by Sen. Dan Kotowski
 
SYNOPSIS AS INTRODUCED:
 

 



30 ILCS 105/6p-3  from Ch. 127, par. 142p3

     Amends the State Finance Act. Provides that, if at the end of the lapse period the balance in the State Surplus Property Revolving Fund exceeds the amount of $1,000,000 (now, $500,000), all monies in excess of that amount shall be transferred and deposited into the General Revenue Fund. Effective immediately.
  


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FISCAL NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
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1    AN ACT concerning finance.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The State Finance Act is amended  by changing 
5Section 6p-3 as follows:
 



6    (30 ILCS 105/6p-3)  (from Ch. 127, par. 142p3)



7    Sec. 6p-3. 
(a) The State Surplus Property Revolving Fund 
8shall be initially
financed by a transfer of funds from the 
9General Revenue Fund.  Thereafter
all fees and other monies 
10received by the Department of Central Management
Services from 
11the sale or transfer of surplus or transferable property 
12pursuant
to the "State Property Control Act" and "An Act to 
13create and establish
a State Agency for Federal Surplus 
14Property, to prescribe its powers, duties
and functions", 
15approved August 2, 1965, as amended, shall be paid into
the 
16State Surplus Property Revolving Fund.  Except as provided in

17paragraph (e) of this Section, the money in this fund shall be 
18used by the
Department of Central Management Services as 
19reimbursement for expenditures
incurred in relation to the sale 
20of surplus or transferable property.

21    (b) If at the end of the lapse period the balance in the 
22State Surplus
Property Revolving Fund exceeds the amount of 
23$1,000,000 $500,000, all monies in
excess of that amount shall 
 
 
SB3286- 2 -LRB097 15968 PJG 61118 b

1be transferred and deposited into the
General Revenue Fund.

2    (c) Provided, however, that the fund established by this 
3Section shall
contain a separate account for the deposit of all 
4proceeds resulting from
the sale of Federal surplus property, 
5and the proceeds of this separate
account shall be used solely 
6to reimburse the Department of Central
Management Services for 
7expenditures incurred in relation to the sale of
Federal 
8surplus property.

9    (d) Any funds on deposit in the State Agency for Surplus 
10Property
Utilization Fund on the effective date of this 
11amendatory Act of 1983 shall
be transferred to the Federal 
12account of the State Surplus Property
Revolving Fund.

13    (e) Revenues received from the sale of wastepaper through 
14paper
recycling programs shall be placed into a separate 
15account in the Fund and
shall be used to offset costs to the 
16Department of establishing and
operating wastepaper recycling 
17programs.  At the end of each calendar
quarter, any amounts in 
18the separate account that have not been used or
designated for 
19use shall be transferred to the Paper and Printing
Revolving 
20Fund.

21(Source: P.A. 85-1197.)

 
 
22    Section 99. Effective date. This Act takes effect upon 
23becoming law.