Full Text of SB0274 99th General Assembly
SB0274sam003 99TH GENERAL ASSEMBLY | Sen. Matt Murphy Filed: 4/21/2015
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| 1 | | AMENDMENT TO SENATE BILL 274
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 274 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 1. Short title. This Act may be cited as the | 5 | | Fiscal Year 2015 Emergency Act. | 6 | | Section 5. Legislative intent. The General Assembly hereby | 7 | | finds and declares that the State is confronted with an | 8 | | unprecedented fiscal crisis. This Act is to be liberally | 9 | | construed and interpreted in a manner that allows the State, | 10 | | together with other actions taken, to address the fiscal crisis | 11 | | for the fiscal year ending June 30, 2015. | 12 | | Section 10. Fund transfers. | 13 | | (a) Notwithstanding any other provision of law, but subject | 14 | | to the provisions of this Act, at the direction of and upon | 15 | | notification from the Governor, the Comptroller shall direct |
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| 1 | | and the Treasurer shall transfer an amount specified by the | 2 | | Governor for the State's fiscal year 2015 from any fund held by | 3 | | the Treasurer to any general fund held by the Treasurer. | 4 | | (b) The sum of transfers made pursuant to this Section may | 5 | | not exceed $26,000,000. | 6 | | (c) No transfer pursuant to this Section may be made from | 7 | | (i) any federal trust fund; (ii) any amount set aside for | 8 | | payment of debt service; (iii) any amount set aside for the | 9 | | State retirement systems governed by Article 2, 14, 15, 16, or | 10 | | 18 of the Illinois Pension Code; (iv) any fund designated for | 11 | | use exclusively by the legislative branch or the judicial | 12 | | branch, or any official or agency of the foregoing branches, or | 13 | | by the State Board of Elections or the State Board of | 14 | | Education; or (v) any State fund designated for use exclusively | 15 | | by the Attorney General, the Secretary of State, the | 16 | | Comptroller, or the Treasurer without the written | 17 | | authorization from such official. | 18 | | (d) No transfer made pursuant to this Section may reduce | 19 | | the cumulative balance of all of the funds held by the | 20 | | Treasurer to an amount less than the total debt service payable | 21 | | during the 12 months immediately following the date of the | 22 | | transfer on any bonded indebtedness of the State and any | 23 | | certificates issued under the Short Term Borrowing Act. When | 24 | | any of the funds from which moneys have been transferred under | 25 | | this Section have insufficient cash from which the State | 26 | | Comptroller may make expenditures properly supported by |
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| 1 | | appropriations from the fund, then, at the direction of the | 2 | | Director of the Governor's Office of Management and Budget, the | 3 | | State Treasurer and State Comptroller shall transfer from the | 4 | | General Revenue Fund to the fund only such amount as is | 5 | | immediately necessary to satisfy outstanding expenditure | 6 | | obligations on a timely basis, subject to the provisions of the | 7 | | State Prompt Payment Act. All or a portion of the amounts | 8 | | transferred from the General Revenue Fund to a fund pursuant to | 9 | | the preceding sentence from time to time may be re-transferred | 10 | | by the State Comptroller and the State Treasurer from the | 11 | | receiving fund into the General Revenue Fund as soon as and to | 12 | | the extent that deposits are made into or received by the | 13 | | receiving fund. If the Director of the Governor's Office of | 14 | | Management and Budget determines that any transfer to the | 15 | | general funds from any of the funds from which moneys have been | 16 | | transferred under this Section either (i) jeopardizes federal | 17 | | funding based on a written communication from a federal | 18 | | official or (ii) violates an order of a court of competent | 19 | | jurisdiction, then the Director may order the State Treasurer | 20 | | and State Comptroller, in writing, to transfer from the General | 21 | | Revenue Fund to that fund all or part of the amounts | 22 | | transferred from that fund under this Section. | 23 | | Section 15. Report. Within 5 business days of each transfer | 24 | | made pursuant to Section 10, the Director of the Governor's | 25 | | Office of Management and Budget shall deliver a report to the |
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| 1 | | President of the Senate, the Speaker of the House of | 2 | | Representatives, the Minority Leader of the Senate, and the | 3 | | Minority Leader of the House of Representatives that sets forth | 4 | | the following information: | 5 | | (a) The date each transfer was made. | 6 | | (b) The amount of each transfer. | 7 | | (c) In the case of a transfer from the General Revenue Fund | 8 | | to a fund of origin, the amount of such transfer and the date | 9 | | such transfer was made. | 10 | | (d) The end-of-day balance of both the fund of origin and | 11 | | the General Revenue Fund on the date the transfer was made. | 12 | | A copy of each report shall be posted on the website of the | 13 | | Governor's Office of Management and Budget within 2 business | 14 | | days after the report is delivered the legislative leaders. | 15 | | Section 20. Repealer. This Act is repealed July 1, 2015.
| 16 | | Section 99. Effective date. This Act takes effect upon | 17 | | becoming law.".
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