Illinois General Assembly - Full Text of SB2921
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Full Text of SB2921  100th General Assembly

SB2921enr 100TH GENERAL ASSEMBLY

  
  
  

 


 
SB2921 EnrolledLRB100 17259 RJF 32418 b

1    AN ACT concerning State government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The State Treasurer Act is amended by adding
5Section 30 as follows:
 
6    (15 ILCS 505/30 new)
7    Sec. 30. Purchase of real property.
8    (a) Subject to the provisions of the Public Contract Fraud
9Act, the State Treasurer, on behalf of the State of Illinois,
10is authorized during State fiscal year 2019 to purchase real
11property located at 300 West Jefferson Street in Springfield,
12Illinois, known as Jefferson Terrace (Parcel ID numbers:
1314-28.0-457-008, -009, -010; 14-28.0-484-034, -035, -036, -
14037, -038, -052, -055; 14-33.0-203-015) which the State
15Treasurer deems necessary to properly carry out the powers and
16duties vested in him or her.
17    (b) Subject to the provisions of the Treasurer's
18Procurement Rules, which shall be substantially in accordance
19with the requirements of Illinois Procurement Code, the State
20Treasurer may:
21        (1) enter into contracts relating to construction,
22    reconstruction, or renovation projects for any such
23    buildings or lands acquired under subsection (a); and

 

 

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1        (2) equip, lease, operate, and maintain those grounds,
2    buildings, and facilities as may be appropriate to carry
3    out his or her statutory purposes and duties.
4    (c) The State Treasurer may enter into agreements with any
5person with respect to the use and occupancy of the grounds,
6buildings, and facilities of the State Treasurer, including
7concession, license, and lease agreements on terms and
8conditions as the State Treasurer determines and in accordance
9with the procurement processes for the Office of the State
10Treasurer, which shall be substantially in accordance with the
11requirements of the Illinois Procurement Code.
12    (d) The exercise of the authority vested in the State
13Treasurer by this Section is subject to the appropriation of
14the necessary funds.
 
15    Section 10. The State Finance Act is amended by changing
16Section 8.12 as follows:
 
17    (30 ILCS 105/8.12)   (from Ch. 127, par. 144.12)
18    Sec. 8.12. State Pensions Fund.
19    (a) The moneys in the State Pensions Fund shall be used
20exclusively for the administration of the Revised Uniform
21Unclaimed Property Act and for the expenses incurred by the
22Auditor General for administering the provisions of Section
232-8.1 of the Illinois State Auditing Act and for operational
24expenses of the Office of the State Treasurer, including the

 

 

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1acquisition of land and buildings for use by the Office of the
2State Treasurer, as well as construction, reconstruction,
3improvement, repair, and maintenance, in accordance with the
4provisions of laws relating thereto, of such lands and
5buildings beginning in State fiscal year 2019 and for each
6fiscal year thereafter, and for the funding of the unfunded
7liabilities of the designated retirement systems. Beginning in
8State fiscal year 2019, payments to the designated retirement
9systems under this Section shall be in addition to, and not in
10lieu of, any State contributions required under the Illinois
11Pension Code.
12    "Designated retirement systems" means:
13        (1) the State Employees' Retirement System of
14    Illinois;
15        (2) the Teachers' Retirement System of the State of
16    Illinois;
17        (3) the State Universities Retirement System;
18        (4) the Judges Retirement System of Illinois; and
19        (5) the General Assembly Retirement System.
20    (b) Each year the General Assembly may make appropriations
21from the State Pensions Fund for the administration of the
22Revised Uniform Unclaimed Property Act.
23    (c) As soon as possible after July 30, 2004 (the effective
24date of Public Act 93-839) this amendatory Act of the 93rd
25General Assembly, the General Assembly shall appropriate from
26the State Pensions Fund (1) to the State Universities

 

 

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1Retirement System the amount certified under Section 15-165
2during the prior year, (2) to the Judges Retirement System of
3Illinois the amount certified under Section 18-140 during the
4prior year, and (3) to the General Assembly Retirement System
5the amount certified under Section 2-134 during the prior year
6as part of the required State contributions to each of those
7designated retirement systems; except that amounts
8appropriated under this subsection (c) in State fiscal year
92005 shall not reduce the amount in the State Pensions Fund
10below $5,000,000. If the amount in the State Pensions Fund does
11not exceed the sum of the amounts certified in Sections 15-165,
1218-140, and 2-134 by at least $5,000,000, the amount paid to
13each designated retirement system under this subsection shall
14be reduced in proportion to the amount certified by each of
15those designated retirement systems.
16    (c-5) For fiscal years 2006 through 2018, the General
17Assembly shall appropriate from the State Pensions Fund to the
18State Universities Retirement System the amount estimated to be
19available during the fiscal year in the State Pensions Fund;
20provided, however, that the amounts appropriated under this
21subsection (c-5) shall not reduce the amount in the State
22Pensions Fund below $5,000,000.
23    (c-6) For fiscal year 2019 and each fiscal year thereafter,
24as soon as may be practical after any money is deposited into
25the State Pensions Fund from the Unclaimed Property Trust Fund,
26the State Treasurer shall apportion the deposited amount among

 

 

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1the designated retirement systems as defined in subsection (a)
2to reduce their actuarial reserve deficiencies. The State
3Comptroller and State Treasurer shall pay the apportioned
4amounts to the designated retirement systems to fund the
5unfunded liabilities of the designated retirement systems. The
6amount apportioned to each designated retirement system shall
7constitute a portion of the amount estimated to be available
8for appropriation from the State Pensions Fund that is the same
9as that retirement system's portion of the total actual reserve
10deficiency of the systems, as determined annually by the
11Governor's Office of Management and Budget at the request of
12the State Treasurer. The amounts apportioned under this
13subsection shall not reduce the amount in the State Pensions
14Fund below $5,000,000.
15    (d) The Governor's Office of Management and Budget shall
16determine the individual and total reserve deficiencies of the
17designated retirement systems. For this purpose, the
18Governor's Office of Management and Budget shall utilize the
19latest available audit and actuarial reports of each of the
20retirement systems and the relevant reports and statistics of
21the Public Employee Pension Fund Division of the Department of
22Insurance.
23    (d-1) As soon as practicable after March 5, 2004 (the
24effective date of Public Act 93-665) this amendatory Act of the
2593rd General Assembly, the Comptroller shall direct and the
26Treasurer shall transfer from the State Pensions Fund to the

 

 

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1General Revenue Fund, as funds become available, a sum equal to
2the amounts that would have been paid from the State Pensions
3Fund to the Teachers' Retirement System of the State of
4Illinois, the State Universities Retirement System, the Judges
5Retirement System of Illinois, the General Assembly Retirement
6System, and the State Employees' Retirement System of Illinois
7after March 5, 2004 (the effective date of Public Act 93-665)
8this amendatory Act during the remainder of fiscal year 2004 to
9the designated retirement systems from the appropriations
10provided for in this Section if the transfers provided in
11Section 6z-61 had not occurred. The transfers described in this
12subsection (d-1) are to partially repay the General Revenue
13Fund for the costs associated with the bonds used to fund the
14moneys transferred to the designated retirement systems under
15Section 6z-61.
16    (e) The changes to this Section made by Public Act 88-593
17this amendatory Act of 1994 shall first apply to distributions
18from the Fund for State fiscal year 1996.
19(Source: P.A. 99-8, eff. 7-9-15; 99-78, eff. 7-20-15; 99-523,
20eff. 6-30-16; 100-22, eff. 1-1-18; 100-23, eff. 7-6-17; revised
218-8-17.)
 
22    Section 99. Effective date. This Act takes effect upon
23becoming law.