HB3985eng 97TH GENERAL ASSEMBLY

HB3985 Engrossed LRB097 16488 PJG 61656 b

AN ACT concerning 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 adding Section 9.08 as follows:

(30 ILCS 105/9.08 new)

Sec. 9.08. Vouchers; submission; posting.

(a) Within 25 business days after a State agency receives a vendor's bill or invoice for goods or services payable from the General Revenue Fund, or as soon thereafter as practical, the State agency must either (i) submit a voucher to the Comptroller for payment of the bill or invoice or (ii) return the bill or invoice to the vendor to correct specified errors or inaccuracies in the bill or invoice.

(b) Within 5 business days after the Comptroller receives an error-free voucher for payment of a vendor's bill or invoice for goods or services from a State agency, the Comptroller must approve or deny the voucher. If the voucher is approved, the Comptroller shall immediately post the transaction to the Statewide Accounting Management System. Within 2 business days after approval of a voucher, the Comptroller shall post the payment transaction or the accounts payable transaction in aggregate for vouchers payable from the General Revenue Fund on the Comptroller's website.

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