Public Act 094-0232
 		





SB1770 Enrolled
LRB094 03706 WGH 33711 b






    AN ACT concerning unemployment insurance.

 
    Be it enacted by the People of the State of Illinois,
 
represented in the General Assembly:


 
    Section 5. The Unemployment Insurance Act is amended  by 
changing Section 2103.1 as follows:
 



    (820 ILCS 405/2103.1)  (from Ch. 48, par. 663.1)



    Sec. 2103.1. Employment Security Administrative Fund. 

    There is hereby established the Employment Security 
Administrative Fund.
Notwithstanding any other provision of 
this Act, all amounts received
pursuant to subsection B of 
Section 1506.3 shall be deposited in the
Employment Security 
Administrative Fund held by the State Treasurer as
ex-officio 
custodian thereof separate and apart from all other State

moneys.  Such moneys shall be expended by the Director for 
purposes
authorized by Section 1704.  Moneys in
this fund
shall 
not be commingled
with other State funds, but they shall be 
deposited as required by law and
maintained in a separate 
account on the books of a savings and loan
association or bank.  
The Governor shall determine when in his judgment the
amounts 
accumulated in the Employment Security Administrative Fund are 
in
excess of amounts needed for the proper administration of 
this Act and
shall direct the State Treasurer to transfer such 
excess amounts from the
Employment Security Administrative 
Fund to this State's account in the
unemployment trust fund.

    The State Treasurer shall be liable on his general official 
bond for the
faithful performance of his duties as custodian of 
the Employment Security
Administrative Fund.  Such liability on 
his official bond shall exist in
addition to the liability upon 
any separate bond given by him.  All sums
recovered for losses 
sustained by the Employment Security Administrative
Fund shall 
be deposited in the fund.

    The Director shall annually on or before the first day of 
March report in
writing to the Employment Security Advisory 
Board concerning the deposits
into and expenditures made from 
the Employment Security Administrative Fund.

    On July 1, 2005, or as soon thereafter as may be reasonably 
practicable, all remaining funds in the Employment Security 
Administrative Fund shall be transferred to the clearing 
account, and, upon the transfer of such funds, the Employment 
Security Administrative Fund is abolished.

    This Section is repealed on January 1, 2006.

(Source: P.A. 86-1367; 87-1178.)

 

    Section 99. Effective date. This Act takes effect July 1, 
2005.






Effective Date:  7/14/2005