Rep. Michael W. Tryon
Filed: 4/10/2013
 
 

 

 

 
09800HB1872ham001LRB098 05853 JDS 44211 a



1
AMENDMENT TO HOUSE BILL 1872




2    AMENDMENT NO. ______. Amend House Bill 1872 by replacing 
3everything after the enacting clause with the following:


 
 
4    "Section 5. The State Comptroller Act is amended  by 
5changing Section 6.01 as follows:
 



6    (15 ILCS 405/6.01)  (from Ch. 15, par. 206.01)



7    Sec. 6.01. 
Specification and establishment of accounting 
8standards and
principles.  The Comptroller shall specify and 
9establish the financial
accounting and reporting standards and 
10principles to be used by all State
government and State 
11agencies.  The standards and principles shall be
effective upon 
12filing by the Comptroller with the Auditor General.  The

13Comptroller shall maintain and publish the standards and 
14principles as a
public document.  These standards and principles 
15shall be known as the
Generally Accepted Accounting Standards 
16and Principles for Illinois State
Government, and shall be 
 
 
09800HB1872ham001- 2 -LRB098 05853 JDS 44211 a

1compatible with generally accepted accounting standards and 
2principles for government as prescribed by the Governmental 
3Accounting Standards Board (GASB). , whenever possible, be 
4compatible with any similar
nationally existing generally 
5accepted accounting standards and principles
for government.

6    In establishing the Generally Accepted Accounting 
7Standards and
Principles for Illinois State Government, the 
8Comptroller shall consult with
the Governor and the other 
9members of the Executive Branch, the Chief
Justice of the 
10Supreme Court, and the leadership of the General Assembly
and 
11shall provide to these officials, and publish on the 
12Comptroller's website, draft copies of any proposed standards

13at least 90 days prior to their adoption and shall consider any 
14responses
or suggestions that these officials may present.

15(Source: P.A. 86-1415.)".