HB1355ham003 97TH GENERAL ASSEMBLY

Rep. Karen May

Filed: 3/8/2011

09700HB1355ham003 LRB097 07051 HLH 52316 a

AMENDMENT TO HOUSE BILL 1355

AMENDMENT NO. ______. Amend House Bill 1355 by replacing everything after the enacting clause with the following:

"Section 5. The Department of Revenue Law of the Civil Administrative Code of Illinois is amended by adding Section 2505-755 as follows:

(20 ILCS 2505/2505-755 new)

Sec. 2505-755. Deposit of State funds. Notwithstanding any other provision of law, the proceeds from any tax imposed by the State and collected and administered by the Department shall be deposited into the appropriate fund in the State treasury within 3 business days after the proceeds are received by the Department. If the funds are required by law to be deposited into a specific fund in the State treasury for subsequent transfer by law into another fund in the State treasury, then the 3-business day requirement under this Section applies only to deposits into the first fund. The subsequent transfer shall be made in accordance with the applicable statute.

Section 10. The State Finance Act is amended by adding Section 4.2 as follows:

(30 ILCS 105/4.2 new)

Sec. 4.2. Deposit of State funds. Notwithstanding any other provision of law, moneys received by any State agency that are required to be deposited into a fund in the State treasury shall be deposited into the appropriate fund in the State treasury within 3 business days after the moneys are received by the agency. If the funds are required by law to be deposited into a specific fund in the State treasury for subsequent transfer by law into another fund in the State treasury, then the 3-business day requirement under this Section applies only to deposits into the first fund. The subsequent transfer shall be made in accordance with the applicable statute.

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