Rep. Karen May

Filed: 3/8/2011

 

 


 

 


 
09700HB1355ham003LRB097 07051 HLH 52316 a

1
AMENDMENT TO HOUSE BILL 1355

2    AMENDMENT NO. ______. Amend House Bill 1355 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Department of Revenue Law of the Civil
5Administrative Code of Illinois is amended by adding Section
62505-755 as follows:
 
7    (20 ILCS 2505/2505-755 new)
8    Sec. 2505-755. Deposit of State funds. Notwithstanding any
9other provision of law, the proceeds from any tax imposed by
10the State and collected and administered by the Department
11shall be deposited into the appropriate fund in the State
12treasury within 3 business days after the proceeds are received
13by the Department. If the funds are required by law to be
14deposited into a specific fund in the State treasury for
15subsequent transfer by law into another fund in the State
16treasury, then the 3-business day requirement under this

 

 

09700HB1355ham003- 2 -LRB097 07051 HLH 52316 a

1Section applies only to deposits into the first fund. The
2subsequent transfer shall be made in accordance with the
3applicable statute.
 
4    Section 10. The State Finance Act is amended by adding
5Section 4.2 as follows:
 
6    (30 ILCS 105/4.2 new)
7    Sec. 4.2. Deposit of State funds. Notwithstanding any other
8provision of law, moneys received by any State agency that are
9required to be deposited into a fund in the State treasury
10shall be deposited into the appropriate fund in the State
11treasury within 3 business days after the moneys are received
12by the agency. If the funds are required by law to be deposited
13into a specific fund in the State treasury for subsequent
14transfer by law into another fund in the State treasury, then
15the 3-business day requirement under this Section applies only
16to deposits into the first fund. The subsequent transfer shall
17be made in accordance with the applicable statute.
 
18    Section 99. Effective date. This Act takes effect upon
19becoming law.".