Illinois General Assembly - Illinois Compiled Statutes

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105 ILCS 5/34A-411

(105 ILCS 5/34A-411) (from Ch. 122, par. 34A-411)

Sec. 34A-411.

Termination and reinstatement of Authority's power under this
Article.

(a) The powers and responsibilities granted to or imposed upon the Authority
and the Board under Sections 34A-401 through 34A-410 of this Article shall
not be exercised after the Authority has certified to the Governor and the
Mayor that the Board has completed 6 successive Fiscal Years of balanced
Budgets pursuant to the accounting and other principles prescribed by the
Authority. Notwithstanding the foregoing sentence, Sections 34A-402, 34A-404,
34A-405, and 34A-408 shall continue in full force and effect after such
certification of the completion of 6 successive Fiscal Years of balanced
Budgets.

(b) Upon determination by the Authority and certification of the Authority
to the Governor and the Mayor that the Board has failed to adopt a balanced
Budget by August 15th immediately preceding the commencement of each Fiscal
Year or failed to achieve a balanced Budget for two successive Fiscal Years,
subsequent to a time in which the powers and responsibilities of the Authority
and the Board are not exercised pursuant
to paragraph (a) of this Section, the Authority and Board shall resume the
exercise of their respective powers and responsibilities pursuant to each
Section of this Article.

(c) Notwithstanding the provisions of subsections (a) and (b) of this
Section or any other provision of law to the contrary, the powers and
responsibilities granted to or imposed upon the Authority and the Board under
Sections 34A-401 through 34A-410 and Section 34A-606 are suspended until
December 31, 2010.

(Source: P.A. 93-488, eff. 8-8-03.)