SB3286 97TH GENERAL ASSEMBLY

LRB097 15968 PJG 61118 b

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.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning finance.

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

Section 5. The State Finance Act is amended by changing Section 6p-3 as follows:

(30 ILCS 105/6p-3) (from Ch. 127, par. 142p3)

Sec. 6p-3. (a) The State Surplus Property Revolving Fund shall be initially financed by a transfer of funds from the General Revenue Fund. Thereafter 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 "An Act to create and establish a State Agency for Federal Surplus Property, to prescribe its powers, duties and functions", approved August 2, 1965, as amended, shall be paid into the State Surplus Property Revolving Fund. 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.

(b) If at the end of the lapse period the balance in the State Surplus Property Revolving Fund exceeds the amount of $1,000,000 $500,000, all monies in excess of that amount shall be transferred and deposited into the General Revenue Fund.

(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 Revolving Fund.

(e) Revenues received from the sale of wastepaper through paper recycling programs shall be placed into a separate account in the Fund and shall be used to offset costs to the Department of establishing and operating wastepaper recycling programs. At the end of each calendar quarter, any amounts in the separate account that have not been used or designated for use shall be transferred to the Paper and Printing Revolving Fund.

(Source: P.A. 85-1197.)

Section 99. Effective date. This Act takes effect upon becoming law.