97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB3286

 

Introduced 2/7/2012, by Sen. Dan Kotowski

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 105/6p-3  from Ch. 127, par. 142p3

    Amends the State Finance Act. Provides that, if at the end of the lapse period the balance in the State Surplus Property Revolving Fund exceeds the amount of $1,000,000 (now, $500,000), all monies in excess of that amount shall be transferred and deposited into the General Revenue Fund. Effective immediately.


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FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB3286LRB097 15968 PJG 61118 b

1    AN ACT concerning finance.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The State Finance Act is amended by changing
5Section 6p-3 as follows:
 
6    (30 ILCS 105/6p-3)  (from Ch. 127, par. 142p3)
7    Sec. 6p-3. (a) The State Surplus Property Revolving Fund
8shall be initially financed by a transfer of funds from the
9General Revenue Fund. Thereafter all fees and other monies
10received by the Department of Central Management Services from
11the sale or transfer of surplus or transferable property
12pursuant to the "State Property Control Act" and "An Act to
13create and establish a State Agency for Federal Surplus
14Property, to prescribe its powers, duties and functions",
15approved August 2, 1965, as amended, shall be paid into the
16State Surplus Property Revolving Fund. Except as provided in
17paragraph (e) of this Section, the money in this fund shall be
18used by the Department of Central Management Services as
19reimbursement for expenditures incurred in relation to the sale
20of surplus or transferable property.
21    (b) If at the end of the lapse period the balance in the
22State Surplus Property Revolving Fund exceeds the amount of
23$1,000,000 $500,000, all monies in excess of that amount shall

 

 

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1be transferred and deposited into the General Revenue Fund.
2    (c) Provided, however, that the fund established by this
3Section shall contain a separate account for the deposit of all
4proceeds resulting from the sale of Federal surplus property,
5and the proceeds of this separate account shall be used solely
6to reimburse the Department of Central Management Services for
7expenditures incurred in relation to the sale of Federal
8surplus property.
9    (d) Any funds on deposit in the State Agency for Surplus
10Property Utilization Fund on the effective date of this
11amendatory Act of 1983 shall be transferred to the Federal
12account of the State Surplus Property Revolving Fund.
13    (e) Revenues received from the sale of wastepaper through
14paper recycling programs shall be placed into a separate
15account in the Fund and shall be used to offset costs to the
16Department of establishing and operating wastepaper recycling
17programs. At the end of each calendar quarter, any amounts in
18the separate account that have not been used or designated for
19use shall be transferred to the Paper and Printing Revolving
20Fund.
21(Source: P.A. 85-1197.)
 
22    Section 99. Effective date. This Act takes effect upon
23becoming law.