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.)".