Illinois General Assembly - Illinois Compiled Statutes

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20 ILCS 1605/20.1

(20 ILCS 1605/20.1) (from Ch. 120, par. 1170.1)

Sec. 20.1. Department account.

(a) The Department is authorized to pay validated prizes
up to $25,000 from funds held by the Department in an account separate and
apart from all public moneys of the State.  Moneys in this account shall be
administered by the Director exclusively for the purposes of issuing payments
to prize winners authorized by this Section.  Moneys in this account shall be
deposited by the Department into the Public Treasurers' Investment Pool
established under Section 17 of the State Treasurer Act.  The Department shall
submit vouchers from time to time as needed for reimbursement of this account
from moneys appropriated for prizes from the State Lottery Fund.  Investment
income earned from this account shall be deposited monthly by the Department
into the Common School Fund.  The Department shall file quarterly fiscal
reports specifying the activity of this account as required under Section 16 of
the State Comptroller Act, and shall file quarterly with the General Assembly,
the Auditor General, the Comptroller, and the State Treasurer a report
indicating the costs associated with this activity.

(b) The Department is authorized to enter into an interagency agreement
with the Office of the Comptroller or any other State agency to establish
responsibilities, duties, and procedures for complying with the Comptroller's
Offset System under Section 10.05 of the State Comptroller Act.  All federal
and State tax reporting and withholding requirements relating to prize winners
under this Section shall be the responsibility of the Department.  Moneys from
this account may not be used to pay amounts to deferred prize winners.  Moneys
may not be transferred from the State Lottery Fund to this account for payment
of prizes under this Section until procedures are implemented to comply with
the Comptroller's Offset System and sufficient internal controls are in place
to validate prizes.

(Source: P.A. 97-464, eff. 10-15-11; 98-499, eff. 8-16-13.)