(30 ILCS 105/4.1) (from Ch. 127, par. 140.1)
Sec. 4.1.
(a) Whenever the State Treasurer or other State officer
receives interest from the investment or deposit of moneys received by the
State on account of taxes, fees, licenses or other governmental assessments
imposed or levied by the State or any of its agencies or instrumentalities,
the Treasurer shall direct the Comptroller to deposit such interest into
the General Revenue Fund, except where by specific statutory provisions
such interest is directed to be credited to and paid to a particular fund.
(b) In the event that the State Treasurer or other State officer invests
or deposits moneys representing taxes, fees, licenses or other governmental
assessments imposed or levied by a unit of local government or school
district, the Treasurer shall direct the Comptroller to pay the interest on
such moneys to the unit of local government or school district which
imposed or levied the tax, fee, license or other governmental assessment,
except where by specific statutory provisions such interest is directed to
be credited to and paid to a particular fund. The Comptroller shall make
such payment upon his determination that the payment is pursuant to law and
authorized as provided in Section 9 of the State Comptroller Act.
(c) Whenever the State Treasurer pays interest pursuant to this Section,
such interest shall be calculated and apportioned on the average daily
balance of such monies as determined from the records of the Comptroller.
(Source: P.A. 84-1378.)
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