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| [ Engrossed ] | [ Enrolled ] | [ House Amendment 001 ] |
91_HB3293
LRB9109418DJcd
1 AN ACT to amend the Illinois Community Development
2 Finance Corporation Act by adding Section 8.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Community Development Finance
6 Corporation Act is amended by adding Section 8 as follows:
7 (315 ILCS 15/8 new)
8 Sec. 8. Dissolution of CDFC; repeal of Act.
9 (a) The CDFC is dissolved.
10 (b) If any moneys remain in the CDFC Fund, those moneys,
11 together with any earnings on those moneys, shall be returned
12 to the persons who donated those moneys.
13 (c) Any records or other property belonging to or in the
14 custody of the CDFC shall become the property of or be
15 transferred to the custody of the State Treasurer.
16 (d) If there are any outstanding claims or obligations
17 of the CDFC, those claims and obligations shall become the
18 claims and obligations of the State Treasurer.
19 (e) The State Treasurer shall implement this Section.
20 (f) This Act is repealed 30 days after the moneys in the
21 CDFC Fund are returned to the donors pursuant to subsection
22 (b).
23 Section 99. Effective date. This Act takes effect upon
24 becoming law.