Illinois General Assembly - Full Text of SB0790

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Full Text of SB0790 95th General Assembly

SB0790eng 95TH GENERAL ASSEMBLY

SB0790 Engrossed LRB095 05455 RCE 25545 b

1     AN ACT concerning finance.

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

4     Section 1. Short title. This amendatory Act of the 95th
5 General Assembly may be cited as the Federal Transfer
6 Maximization Law of 2008.

7     Section 5. The State Finance Act is amended by adding
8 Section 8.46 as follows:

9     (30 ILCS 105/8.46 new)
10     Sec. 8.46. Transfers to the General Revenue Fund.
11     (a) Notwithstanding any other State law to the contrary and
12 except as otherwise provided in this Section, the Governor may,
13 beginning on July 1, 2008 and through June 30, 2009, from time
14 to time direct the State Treasurer and State Comptroller to
15 transfer sums specified by the Governor up to a total sum of
16 $530,000,000 from any fund or funds held by the State
17 Comptroller and State Treasurer to the General Revenue Fund in
18 order to help reduce the State's fiscal deficit and preserve
19 the State's ability to meet all of its fiscal obligations. The
20 sums transferred by the Governor to the General Revenue Fund
21 under this Section may be used only to pay Medicaid
22 obligations, State financial obligations that secure federal

SB0790 Engrossed - 2 - LRB095 05455 RCE 25545 b

1 funds, or obligations of the State Board of Education. In
2 determining the amount of the transfer to the General Revenue
3 Fund, the Governor shall calculate whether the available
4 resources in the fund are sufficient to satisfy the unexpended
5 and unreserved appropriations from the fund for the fiscal
6 year. No transfer may be made from a fund under this Section
7 that would have the effect of reducing the available balance in
8 the fund to an amount less than the amount remaining unexpended
9 and unreserved from the total appropriation from that fund
10 estimated to be expended for that fiscal year. This Section
11 does not apply to any funds that are restricted by federal law
12 to a specific use or are used primarily for the repayment of
13 State indebtedness.
14     In calculating the available resources in a fund, the
15 Governor may include receipts, transfers into the fund, and
16 other resources anticipated to be available in the fund in that
17 fiscal year.
18     The State Treasurer and State Comptroller shall transfer
19 the amounts designated under this Section as soon as may be
20 practicable after receiving the direction to transfer from the
21 Governor.
22     (b) On and after July 1, 2008 and through June 30, 2009,
23 when any of the funds subject to the transfers made pursuant to
24 subsection (a) have insufficient cash from which the State
25 Comptroller may make expenditures properly supported by
26 appropriations from the fund, the Governor may direct the State

SB0790 Engrossed - 3 - LRB095 05455 RCE 25545 b

1 Comptroller and the State Treasurer to reverse the transfers
2 previously authorized by subsection (a) to the General Revenue
3 Fund and retransfer from the General Revenue Fund, if
4 applicable, all or a portion of the transfers made pursuant to
5 subsection (a). The Governor may further direct from time to
6 time that all or a portion of the amounts transferred from the
7 General Revenue Fund to a fund pursuant to this subsection (b)
8 be re-transferred by the State Comptroller and the State
9 Treasurer from the receiving fund into the General Revenue Fund
10 as soon as and to the extent that deposits are made into or
11 receipts are collected by the receiving fund.
12     (c) No transfers may be made under this Section to the
13 General Revenue Fund from any of the following funds:
14         (1) The Road Fund.
15         (2) The Open Space Lands Acquisition and Development
16     Fund (OSLAD).
17         (3) Metabolic Screening and Treatment Fund.
18         (4) The Illinois Veterans' Homes Fund.
19         (5) The Illinois Veterans Assistance Fund.
20         (6) The LaSalle Veterans Home Fund.
21         (7) The Anna Veterans Home Fund.
22         (8) The GI Education Fund.
23         (9) The Quincy Veterans Home Fund.
24         (10) The Illinois Military Family Relief Fund.
25         (11) The Veterans' Affairs Federal Projects Fund.
26         (12) The Manteno Veterans Home Fund.

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1         (13) The Veterans' Affairs Library Grant Fund.
2         (14) The Veterans' Affairs State Projects Fund.
3         (15) The Military Affairs Trust Fund.
4         (16) The Federal Support Agreement Revolving Fund.
5         (17) The Illinois Veterans' Rehabilitation Fund.
6         (18) The Armory Rental Fund.
7         (19) The State Construction Account Fund.
8         (20) The Motor Fuel Tax Fund.
9         (21) The Teachers' Health Insurance Security Fund.
10         (22) College Savings Pool Administrative Trust Fund.
11         (23) State Pensions Fund.
12         (24) Community College Health Insurance Security Fund.
13         (25) Downstate Public Transportation Fund.
14         (26) Regional Transportation Authority Occupation and
15     Use Tax Replacement Fund.
16         (27) The Cycle Rider Safety Training Fund.
17         (28) The Public Transportation Fund.
18         (29) The Rental Housing Support Program Fund.

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

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