093_SB1918

 
                                     LRB093 08770 RCE 09001 b

 1        AN ACT regarding 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 5e as follows:

 6        (30 ILCS 105/5e) (from Ch. 127, par. 141e)
 7        Sec. 5e.  The Governor, in his or her discretion, when he
 8    or she  deems  it  necessary  for  payments  of  the  State's
 9    obligations,  may  authorize  transfers from the Road Fund to
10    the  State  Construction  Account  Fund.    Any   amount   so
11    transferred   shall   be   retransferred   from   the   State
12    Construction  Account Fund to the Road Fund by the end of the
13    fiscal year in which the transfer was  made.   The  transfers
14    out  of  the  Road  Fund  shall not exceed $35,000,000 in any
15    fiscal year.  No transfers from the Road  Fund  which  impair
16    the  obligations  of  the  State  shall  be  authorized.  The
17    Comptroller and the Treasurer, upon receipt of  authorization
18    from  the  Governor,  shall make transfers in accordance with
19    this Section.  In the event the Governor fails  to  authorize
20    the  retransfer  into  the  Road  Fund  as  required  by this
21    Section, the Comptroller and the Treasurer  shall  make  such
22    retransfer.
23    (Source: P.A. 84-431.)