093_SB2100

 
                                     LRB093 13173 BDD 18439 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 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
 
                            -2-      LRB093 13173 BDD 18439 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.