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(30 ILCS 105/6p-3)
(from Ch. 127, par. 142p3)
(a) The State Surplus Property Revolving Fund shall be initially
financed by a transfer of funds from the General Revenue Fund. All fees and other monies received by the Department of Central Management
Services from the sale or transfer of surplus or transferable property pursuant
to the State Property Control Act and the Federal Surplus Property Act shall be paid into
the State Surplus Property Revolving Fund until June 30, 2020, and shall be paid into the General Revenue Fund beginning July 1, 2020.
Except as provided in
paragraph (e) of this Section, the money in this fund shall be used by the
Department of Central Management Services as reimbursement for expenditures
incurred in relation to the sale of surplus or transferable property.
(c) Provided, however, that the fund established by this Section shall
contain a separate account for the deposit of all proceeds resulting from
the sale of Federal surplus property, and the proceeds of this separate
account shall be used solely to reimburse the Department of Central
Management Services for expenditures incurred in relation to the sale of
Federal surplus property.
(d) Any funds on deposit in the State Agency for Surplus Property
Utilization Fund on the effective date of this amendatory Act of 1983 shall
be transferred to the Federal account of the State Surplus Property
(f) Notwithstanding any other provision of law to the contrary, and in addition to any other transfers that may be provided by law, on July 1, 2020, or after sufficient moneys have been received in the State Surplus Property Revolving Fund to pay all Fiscal Year 2020 obligations payable from the Fund, whichever is later, the State Comptroller shall direct and the State Treasurer shall transfer the remaining balance from the State Surplus Property Revolving Fund into the General Revenue Fund. Upon completion of the transfer, any future deposits due to the State Surplus Property Revolving Fund, and any outstanding obligations or liabilities of that Fund, shall pass to the General Revenue Fund.
(Source: P.A. 101-636, eff. 6-10-20.)