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90_SB1561sam004
LRB9011314NTsbam04
1 AMENDMENT TO SENATE BILL 1561
2 AMENDMENT NO. . Amend Senate Bill 1561, AS AMENDED,
3 in the introductory clause of Section 5, by replacing "and
4 19-1" with "19-1, and 34A-411"; and
5 in Section 5, by inserting immediately below the end of Sec.
6 19-1 the following:
7 "(105 ILCS 5/34A-411) (from Ch. 122, par. 34A-411)
8 Sec. 34A-411. Termination and reinstatement of
9 Authority's power under this Article.
10 (a) The powers and responsibilities granted to or
11 imposed upon the Authority and the Board under Sections
12 34A-401 through 34A-410 of this Article shall not be
13 exercised after the Authority has certified to the Governor
14 and the Mayor that the Board has completed 6 successive
15 Fiscal Years of balanced Budgets pursuant to the accounting
16 and other principles prescribed by the Authority.
17 Notwithstanding the foregoing sentence, Sections 34A-402,
18 34A-404, 34A-405, and 34A-408 shall continue in full force
19 and effect after such certification of the completion of 6
20 successive Fiscal Years of balanced Budgets.
21 (b) Upon determination by the Authority and
22 certification of the Authority to the Governor and the Mayor
-2- LRB9011314NTsbam04
1 that the Board has failed to adopt a balanced Budget by
2 August 15th immediately preceding the commencement of each
3 Fiscal Year or failed to achieve a balanced Budget for two
4 successive Fiscal Years, subsequent to a time in which the
5 powers and responsibilities of the Authority and the Board
6 are not exercised pursuant to paragraph (a) of this Section,
7 the Authority and Board shall resume the exercise of their
8 respective powers and responsibilities pursuant to each
9 Section of this Article.
10 (c) Notwithstanding the provisions of subsections (a)
11 and (b) of this Section or any other provision of law to the
12 contrary, the powers and responsibilities granted to or
13 imposed upon the Authority and the Board under Sections
14 34A-401 through 34A-410 and Section 34A-606 are suspended
15 until July 1, 2004 1999.
16 (Source: P.A. 88-511; 89-15, eff. 5-30-95.)".