Illinois General Assembly - Full Text of SB0274
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Full Text of SB0274  99th General Assembly

SB0274sam003 99TH GENERAL ASSEMBLY

Sen. Matt Murphy

Filed: 4/21/2015

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 274

2    AMENDMENT NO. ______. Amend Senate Bill 274 by replacing
3everything after the enacting clause with the following:
 
4    "Section 1. Short title. This Act may be cited as the
5Fiscal Year 2015 Emergency Act.
 
6    Section 5. Legislative intent. The General Assembly hereby
7finds and declares that the State is confronted with an
8unprecedented fiscal crisis. This Act is to be liberally
9construed and interpreted in a manner that allows the State,
10together with other actions taken, to address the fiscal crisis
11for the fiscal year ending June 30, 2015.
 
12    Section 10. Fund transfers.
13    (a) Notwithstanding any other provision of law, but subject
14to the provisions of this Act, at the direction of and upon
15notification from the Governor, the Comptroller shall direct

 

 

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1and the Treasurer shall transfer an amount specified by the
2Governor for the State's fiscal year 2015 from any fund held by
3the Treasurer to any general fund held by the Treasurer.
4    (b) The sum of transfers made pursuant to this Section may
5not exceed $26,000,000.
6    (c) No transfer pursuant to this Section may be made from
7(i) any federal trust fund; (ii) any amount set aside for
8payment of debt service; (iii) any amount set aside for the
9State retirement systems governed by Article 2, 14, 15, 16, or
1018 of the Illinois Pension Code; (iv) any fund designated for
11use exclusively by the legislative branch or the judicial
12branch, or any official or agency of the foregoing branches, or
13by the State Board of Elections or the State Board of
14Education; or (v) any State fund designated for use exclusively
15by the Attorney General, the Secretary of State, the
16Comptroller, or the Treasurer without the written
17authorization from such official.
18    (d) No transfer made pursuant to this Section may reduce
19the cumulative balance of all of the funds held by the
20Treasurer to an amount less than the total debt service payable
21during the 12 months immediately following the date of the
22transfer on any bonded indebtedness of the State and any
23certificates issued under the Short Term Borrowing Act. When
24any of the funds from which moneys have been transferred under
25this Section have insufficient cash from which the State
26Comptroller may make expenditures properly supported by

 

 

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1appropriations from the fund, then, at the direction of the
2Director of the Governor's Office of Management and Budget, the
3State Treasurer and State Comptroller shall transfer from the
4General Revenue Fund to the fund only such amount as is
5immediately necessary to satisfy outstanding expenditure
6obligations on a timely basis, subject to the provisions of the
7State Prompt Payment Act. All or a portion of the amounts
8transferred from the General Revenue Fund to a fund pursuant to
9the preceding sentence from time to time may be re-transferred
10by the State Comptroller and the State Treasurer from the
11receiving fund into the General Revenue Fund as soon as and to
12the extent that deposits are made into or received by the
13receiving fund. If the Director of the Governor's Office of
14Management and Budget determines that any transfer to the
15general funds from any of the funds from which moneys have been
16transferred under this Section either (i) jeopardizes federal
17funding based on a written communication from a federal
18official or (ii) violates an order of a court of competent
19jurisdiction, then the Director may order the State Treasurer
20and State Comptroller, in writing, to transfer from the General
21Revenue Fund to that fund all or part of the amounts
22transferred from that fund under this Section.
 
23    Section 15. Report. Within 5 business days of each transfer
24made pursuant to Section 10, the Director of the Governor's
25Office of Management and Budget shall deliver a report to the

 

 

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1President of the Senate, the Speaker of the House of
2Representatives, the Minority Leader of the Senate, and the
3Minority Leader of the House of Representatives that sets forth
4the following information:
5    (a) The date each transfer was made.
6    (b) The amount of each transfer.
7    (c) In the case of a transfer from the General Revenue Fund
8to a fund of origin, the amount of such transfer and the date
9such transfer was made.
10    (d) The end-of-day balance of both the fund of origin and
11the General Revenue Fund on the date the transfer was made.
12    A copy of each report shall be posted on the website of the
13Governor's Office of Management and Budget within 2 business
14days after the report is delivered the legislative leaders.
 
15    Section 20. Repealer. This Act is repealed July 1, 2015.
 
16    Section 99. Effective date. This Act takes effect upon
17becoming law.".