SB2218eng 93RD GENERAL ASSEMBLY

SB2218 Engrossed LRB093 15845 RCE 41462 b

AN ACT regarding 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 5e as follows:

(30 ILCS 105/5e) (from Ch. 127, par. 141e)

Sec. 5e. The Governor, in his or her discretion, when he or she deems it necessary for payments of the State's obligations, may authorize transfers from the Road Fund to the State Construction Account Fund. Any amount so transferred shall be retransferred from the State Construction Account Fund to the Road Fund by the end of the fiscal year in which the transfer was made. The transfers out of the Road Fund shall not exceed $35,000,000 in any fiscal year. No transfers from the Road Fund which impair the obligations of the State shall be authorized. The Comptroller and the Treasurer, upon receipt of authorization from the Governor, shall make transfers in accordance with this Section. In the event the Governor fails to authorize the retransfer into the Road Fund as required by this Section, the Comptroller and the Treasurer shall make such retransfer.

(Source: P.A. 84-431.)