093_SB2099

 
                                     LRB093 13419 BDD 18806 b

 1        AN ACT concerning finance.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The State Finance Act is amended by  changing
 5    Section 8h, added by Public Act 93-32, as follows:

 6        (30 ILCS 105/8h)
 7        Sec.    8h.    Transfers   to   General   Revenue   Fund.
 8    Notwithstanding any other State  law  to  the  contrary,  the
 9    Director  of  the  Governor's Office of Management and Budget
10    Bureau of the Budget may from time to time direct  the  State
11    Treasurer  and  Comptroller  to transfer a specified sum from
12    any fund held by the State Treasurer to the  General  Revenue
13    Fund  in order to help defray the State's operating costs for
14    the fiscal year.  The total transfer under this Section  from
15    any fund in any fiscal year shall not exceed the lesser of 8%
16    of  the  revenues  to  be deposited into the fund during that
17    year or 25% of  the  beginning  balance  in  the  fund.    No
18    transfer  may  be  made  from  a fund under this Section that
19    would have the effect of reducing the  available  balance  in
20    the  fund  to  an  amount  less  than  the  amount  remaining
21    unexpended  and  unreserved from the total appropriation from
22    that fund for that fiscal year.  This Section does not  apply
23    to any funds that are restricted by federal law to a specific
24    use  or  to  any  funds in the Motor Fuel Tax Fund, the State
25    Construction Account Fund, or the Road Fund.  Notwithstanding
26    any other provision of this Section, the total transfer under
27    this Section from the Road Fund  or  the  State  Construction
28    Account  Fund  shall  not  exceed  5%  of  the revenues to be
29    deposited into the fund during that year.
30        In determining the  available  balance  in  a  fund,  the
31    Director  of  the  Governor's Office of Management and Budget
 
                            -2-      LRB093 13419 BDD 18806 b
 1    Bureau of the Budget may include receipts, transfers into the
 2    fund, and other resources anticipated to be available in  the
 3    fund in that fiscal year.
 4        The  State  Treasurer  and Comptroller shall transfer the
 5    amounts designated under this  Section  as  soon  as  may  be
 6    practicable  after  receiving  the direction to transfer from
 7    the Director of  the  Governor's  Office  of  Management  and
 8    Budget Bureau of the Budget.
 9    (Source: P.A. 93-32, eff. 6-20-03; revised 8-21-03.)

10        Section  99.  Effective date.  This Act takes effect upon
11    becoming law.