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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
SB2720
Introduced 2/4/2004, by Jeffrey M. Schoenberg SYNOPSIS AS INTRODUCED:
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30 ILCS 105/5 |
from Ch. 127, par. 141 |
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Amends the State Finance Act. Makes a technical change in a Section
concerning special funds.
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A BILL FOR
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SB2720 |
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LRB093 14845 SJM 40406 b |
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| AN ACT in relation to State finances.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The State Finance Act is amended by changing |
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| Section 5 as
follows:
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| (30 ILCS 105/5) (from Ch. 127, par. 141)
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| Sec. 5. Special funds.
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| (a) There are special funds in the State Treasury |
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| designated as
specified in the Sections which succeed this |
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| Section 5 and precede Section 6.
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| (b) Except as provided in the Illinois Motor Vehicle Theft |
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| Prevention
Act, when any special fund in the State Treasury is |
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| discontinued by an Act
of the General Assembly, any balance |
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| remaining therein on the effective
date of such Act shall be |
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| transferred to the General Revenue Fund, or to
such other fund |
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| as such Act provides
shall provide. Warrants
outstanding |
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| against
such discontinued fund at the time of the transfer of |
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| any such balance
therein shall be paid out of the fund to which |
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| the transfer was made.
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| (c) When any special fund in the State Treasury has been |
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| inactive
for 18 months or longer, the fund is automatically |
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| terminated by operation
of law and the balance remaining in |
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| such fund shall be transferred by the
Comptroller to the |
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| General Revenue Fund. When a special fund has been
terminated |
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| by operation of law as provided in this Section, the General
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| Assembly shall repeal or amend all Sections of the statutes |
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| creating or
otherwise referring to that fund.
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| The Comptroller shall be allowed the discretion to maintain |
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| or dissolve
any federal trust fund which has been inactive for |
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| 18 months or longer.
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| (d) (Blank).
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| (e) (Blank).
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