093_SB0872

 
                                     LRB093 02817 RCE 02833 b

 1        AN ACT in relation to State finances.

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

 4        Section 5.  The State Finance Act is amended by  changing
 5    Section 5 as follows:

 6        (30 ILCS 105/5) (from Ch. 127, par. 141)
 7        Sec. 5.  Special funds.
 8        (a)  There  are  special  funds  in  the  State  Treasury
 9    designated  as  specified  in the Sections which succeed this
10    Section 5 and precede Section 6.
11        (b)  Except as provided in  the  Illinois  Motor  Vehicle
12    Theft  Prevention  Act,  when  any  special fund in the State
13    Treasury is discontinued by an Act of the  General  Assembly,
14    any  balance  remaining therein on the effective date of such
15    Act shall be transferred to the General Revenue Fund,  or  to
16    such other fund as such Act provides shall provide.  Warrants
17    outstanding against such discontinued fund at the time of the
18    transfer of any such balance therein shall be paid out of the
19    fund to which the transfer was made.
20        (c)  When any special fund in the State Treasury has been
21    inactive  for  18 months or longer, the fund is automatically
22    terminated by operation of law and the  balance remaining  in
23    such  fund  shall  be  transferred  by the Comptroller to the
24    General  Revenue  Fund.   When  a  special  fund   has   been
25    terminated  by  operation of law as provided in this Section,
26    the General Assembly shall repeal or amend  all  Sections  of
27    the statutes creating or otherwise referring to that fund.
28        The  Comptroller  shall  be  allowed  the  discretion  to
29    maintain  or  dissolve  any federal trust fund which has been
30    inactive for 18 months or longer.
31        (d)  (Blank).
 
                            -2-      LRB093 02817 RCE 02833 b
 1        (e)  (Blank).
 2    (Source: P.A. 90-372, eff. 7-1-98.)