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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 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 or the
25 Illinois State Toll Highway Authority 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
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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 BudgetBureau 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.