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| 1 | AN ACT concerning finance.
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| 2 | Be it enacted by the People of the State of Illinois,
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| 3 | represented in the General Assembly:
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| 4 | Section 5. The State Finance Act is amended by changing | ||||||||||||||||||||||||
| 5 | Section 8.25c as follows:
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| 6 | (30 ILCS 105/8.25c) (from Ch. 127, par. 144.25c)
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| 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 | (now known as the Adeline Jay Geo-Karis Illinois Beach Marina | ||||||||||||||||||||||||
| 12 | Fund) to the General Revenue Fund 50% of the revenue deposited | ||||||||||||||||||||||||
| 13 | into the
Illinois Beach Marina Fund. Beginning in the fourth | ||||||||||||||||||||||||
| 14 | quarter of fiscal year
1993 and thereafter until the
sum of | ||||||||||||||||||||||||
| 15 | $31,200,000 is paid to the General Revenue Fund, the State
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| 16 | Comptroller shall order transferred and the State Treasurer | ||||||||||||||||||||||||
| 17 | shall transfer
from the Adeline Jay Geo-Karis Illinois Beach | ||||||||||||||||||||||||
| 18 | Marina Fund (formerly known as the Illinois Beach Marina Fund)
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| 19 | to the General Revenue Fund 35% of revenue deposited into the | ||||||||||||||||||||||||
| 20 | Adeline Jay Geo-Karis Illinois Beach Marina Fund (formerly | ||||||||||||||||||||||||
| 21 | known as the Illinois Beach Marina Fund)
in
any fiscal year. In | ||||||||||||||||||||||||
| 22 | addition,
beginning in fiscal year 1991 and thereafter until | ||||||||||||||||||||||||
| 23 | the sum of $8,000,000
is paid to the State Boating Act Fund the | ||||||||||||||||||||||||
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| 1 | State Comptroller shall order
transferred and the State | ||||||
| 2 | Treasurer shall transfer from the Adeline Jay Geo-Karis | ||||||
| 3 | Illinois Beach Marina Fund (formerly known as the Illinois | ||||||
| 4 | Beach
Marina Fund)
to the State Boating Act Fund 15% of the | ||||||
| 5 | revenue deposited into
the Adeline Jay Geo-Karis Illinois Beach | ||||||
| 6 | Marina Fund (formerly known as the Illinois Beach Marina Fund). | ||||||
| 7 | Beginning in fiscal year 1992, the
transfers from the Adeline | ||||||
| 8 | Jay Geo-Karis Illinois Beach Marina Fund (formerly known as the | ||||||
| 9 | Illinois Beach Marina Fund) to the State Boating Act Fund
shall | ||||||
| 10 | be made only at the direction of and in the amount authorized | ||||||
| 11 | by the
Department of Natural Resources. Moneys transferred | ||||||
| 12 | under
authorization of this
Section to the State Boating Act | ||||||
| 13 | Fund in fiscal year 1992 before the
effective date of this | ||||||
| 14 | amendatory Act of 1991 may be transferred to the
Illinois Beach | ||||||
| 15 | Marina Fund (now known as the Adeline Jay Geo-Karis Illinois | ||||||
| 16 | Beach Marina Fund) at the direction of the Department of | ||||||
| 17 | Natural
Resources. The transfers required under this Section
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| 18 | shall be made within 30 days after the end of each quarter | ||||||
| 19 | based on the
State Comptroller's record of receipts for the | ||||||
| 20 | quarter, except that, beginning in fiscal year 2016 and | ||||||
| 21 | continuing through fiscal year 2020, no transfer authorized by | ||||||
| 22 | this Section shall be made immediately after this amendatory | ||||||
| 23 | Act is passed by the 99th General Assembly. The initial
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| 24 | transfers shall be made within 30 days after June 30, 1990 | ||||||
| 25 | based on
revenues received in the preceding quarter. Additional | ||||||
| 26 | transfers in
excess of the limits established under this | ||||||
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| 1 | Section may be authorized by
the Department of Natural | ||||||
| 2 | Resources for accelerated
payback of the amount due.
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| 3 | (b) The Department may, subject to appropriations by the | ||||||
| 4 | General Assembly,
use moneys in the Adeline Jay Geo-Karis | ||||||
| 5 | Illinois Beach Marina Fund (formerly known as the Illinois | ||||||
| 6 | Beach Marina Fund) to pay for operation,
maintenance, repairs, | ||||||
| 7 | or improvements to the marina project; provided,
however, that | ||||||
| 8 | payment of the amounts due under the terms of subsection (a)
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| 9 | shall have priority on all moneys deposited in this Fund.
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| 10 | (c) Moneys on deposit in excess of that needed for payments | ||||||
| 11 | to the
General Revenue Fund and the State Boating Act Fund and | ||||||
| 12 | in excess of those
moneys needed for the operation, | ||||||
| 13 | maintenance, repairs, or improvements to
the Adeline Jay | ||||||
| 14 | Geo-Karis Illinois Beach Marina as determined by the Department | ||||||
| 15 | of Natural
Resources may be transferred at the discretion of | ||||||
| 16 | the
Department to the State Parks Fund.
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| 17 | (Source: P.A. 95-522, eff. 8-28-07; 96-1160, eff. 1-1-11.)
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| 18 | Section 99. Effective date. This Act takes effect upon | ||||||
| 19 | becoming law.
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