Illinois General Assembly - Full Text of SB1932
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Full Text of SB1932  101st General Assembly




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1    AN ACT concerning State government.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The State Treasurer Act is amended by adding
5Section 35 as follows:
6    (15 ILCS 505/35 new)
7    Sec. 35. State Treasurer may purchase real property.
8    (a) Subject to the provisions of the Public Contract Fraud
9Act, the State Treasurer, on behalf of the State of Illinois,
10is authorized during State fiscal years 2019 and 2020 to
11acquire real property located in the City of Springfield,
12Illinois which the State Treasurer deems necessary to properly
13carry out the powers and duties vested in him or her. Real
14property acquired under this Section may be acquired subject to
15any third-party interests in the property that do not prevent
16the State Treasurer from exercising the intended beneficial use
17of such property.
18    (b) Subject to the provisions of the Treasurer's
19Procurement Rules, which shall be substantially in accordance
20with the requirements of the Illinois Procurement Code, the
21State Treasurer may:
22        (1) enter into contracts relating to construction,
23    reconstruction or renovation projects for any such



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1    buildings or lands acquired pursuant to paragraph (a); and
2        (2) equip, lease, operate and maintain those grounds,
3    buildings and facilities as may be appropriate to carry out
4    his or her statutory purposes and duties.
5    (c) The State Treasurer may enter into agreements with any
6person with respect to the use and occupancy of the grounds,
7buildings, and facilities of the State Treasurer, including
8concession, license, and lease agreements on terms and
9conditions as the State Treasurer determines and in accordance
10with the procurement processes for the Office of the State
11Treasurer, which shall be substantially in accordance with the
12requirements of the Illinois Procurement Code.
13    (d) The exercise of the authority vested in the State
14Treasurer by this Section is subject to the appropriation of
15the necessary funds.
16    Section 10. The State Finance Act is amended by changing
17Section 8.12 as follows:
18    (30 ILCS 105/8.12)   (from Ch. 127, par. 144.12)
19    Sec. 8.12. State Pensions Fund.
20    (a) The moneys in the State Pensions Fund shall be used
21exclusively for the administration of the Revised Uniform
22Unclaimed Property Act and for the expenses incurred by the
23Auditor General for administering the provisions of Section
242-8.1 of the Illinois State Auditing Act and for operational



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1expenses of the Office of the State Treasurer and for the
2funding of the unfunded liabilities of the designated
3retirement systems. For the purposes of this Section,
4"operational expenses of the Office of the State Treasurer"
5includes the acquisition of land and buildings in State fiscal
6years 2019 and 2020 for use by the Office of the State
7Treasurer, as well as construction, reconstruction,
8improvement, repair, and maintenance, in accordance with the
9provisions of laws relating thereto, of such lands and
10buildings beginning in State fiscal year 2019 and thereafter.
11Beginning in State fiscal year 2020, payments to the designated
12retirement systems under this Section shall be in addition to,
13and not in lieu of, any State contributions required under the
14Illinois Pension Code.
15    "Designated retirement systems" means:
16        (1) the State Employees' Retirement System of
17    Illinois;
18        (2) the Teachers' Retirement System of the State of
19    Illinois;
20        (3) the State Universities Retirement System;
21        (4) the Judges Retirement System of Illinois; and
22        (5) the General Assembly Retirement System.
23    (b) Each year the General Assembly may make appropriations
24from the State Pensions Fund for the administration of the
25Revised Uniform Unclaimed Property Act.
26    (c) As soon as possible after July 30, 2004 (the effective



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1date of Public Act 93-839), the General Assembly shall
2appropriate from the State Pensions Fund (1) to the State
3Universities Retirement System the amount certified under
4Section 15-165 during the prior year, (2) to the Judges
5Retirement System of Illinois the amount certified under
6Section 18-140 during the prior year, and (3) to the General
7Assembly Retirement System the amount certified under Section
82-134 during the prior year as part of the required State
9contributions to each of those designated retirement systems;
10except that amounts appropriated under this subsection (c) in
11State fiscal year 2005 shall not reduce the amount in the State
12Pensions Fund below $5,000,000. If the amount in the State
13Pensions Fund does not exceed the sum of the amounts certified
14in Sections 15-165, 18-140, and 2-134 by at least $5,000,000,
15the amount paid to each designated retirement system under this
16subsection shall be reduced in proportion to the amount
17certified by each of those designated retirement systems.
18    (c-5) For fiscal years 2006 through 2019, the General
19Assembly shall appropriate from the State Pensions Fund to the
20State Universities Retirement System the amount estimated to be
21available during the fiscal year in the State Pensions Fund;
22provided, however, that the amounts appropriated under this
23subsection (c-5) shall not reduce the amount in the State
24Pensions Fund below $5,000,000.
25    (c-6) For fiscal year 2020 and each fiscal year thereafter,
26as soon as may be practical after any money is deposited into



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1the State Pensions Fund from the Unclaimed Property Trust Fund,
2the State Treasurer shall apportion the deposited amount among
3the designated retirement systems as defined in subsection (a)
4to reduce their actuarial reserve deficiencies. The State
5Comptroller and State Treasurer shall pay the apportioned
6amounts to the designated retirement systems to fund the
7unfunded liabilities of the designated retirement systems. The
8amount apportioned to each designated retirement system shall
9constitute a portion of the amount estimated to be available
10for appropriation from the State Pensions Fund that is the same
11as that retirement system's portion of the total actual reserve
12deficiency of the systems, as determined annually by the
13Governor's Office of Management and Budget at the request of
14the State Treasurer. The amounts apportioned under this
15subsection shall not reduce the amount in the State Pensions
16Fund below $5,000,000.
17    (d) The Governor's Office of Management and Budget shall
18determine the individual and total reserve deficiencies of the
19designated retirement systems. For this purpose, the
20Governor's Office of Management and Budget shall utilize the
21latest available audit and actuarial reports of each of the
22retirement systems and the relevant reports and statistics of
23the Public Employee Pension Fund Division of the Department of
25    (d-1) As soon as practicable after March 5, 2004 (the
26effective date of Public Act 93-665), the Comptroller shall



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1direct and the Treasurer shall transfer from the State Pensions
2Fund to the General Revenue Fund, as funds become available, a
3sum equal to the amounts that would have been paid from the
4State Pensions Fund to the Teachers' Retirement System of the
5State of Illinois, the State Universities Retirement System,
6the Judges Retirement System of Illinois, the General Assembly
7Retirement System, and the State Employees' Retirement System
8of Illinois after March 5, 2004 (the effective date of Public
9Act 93-665) during the remainder of fiscal year 2004 to the
10designated retirement systems from the appropriations provided
11for in this Section if the transfers provided in Section 6z-61
12had not occurred. The transfers described in this subsection
13(d-1) are to partially repay the General Revenue Fund for the
14costs associated with the bonds used to fund the moneys
15transferred to the designated retirement systems under Section
17    (e) The changes to this Section made by Public Act 88-593
18shall first apply to distributions from the Fund for State
19fiscal year 1996.
20(Source: P.A. 99-8, eff. 7-9-15; 99-78, eff. 7-20-15; 99-523,
21eff. 6-30-16; 100-22, eff. 1-1-18; 100-23, eff. 7-6-17;
22100-587, eff. 6-4-18; 100-863, eff. 8-14-18.)
23    Section 99. Effective date. This Act takes effect upon
24becoming law.