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HB4871 Enrolled |
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LRB096 16124 RCE 31373 b |
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| AN ACT concerning State government.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Deposit of State Moneys Act is amended by |
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| adding Section 22.9 as follows:
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| (15 ILCS 520/22.9 new) |
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| Sec. 22.9. Dissolution of Illinois Insured Mortgage Pilot |
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| Program Trust. |
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| (a) The State Treasurer is hereby authorized to transfer |
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| any portion of the balance remaining in the Illinois Insured |
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| Mortgage Pilot Program Trust back to the State's general |
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| investment pool; however, no later than 90 days after the |
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| effective date of this amendatory Act of the 96th General |
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| Assembly, he or she shall transfer back to the State treasury |
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| an amount exceeding $15,000,000. These funds shall be used to |
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| reconcile the State's general investment pool investment |
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| account for the Illinois Insured Mortgage Pilot Program, and |
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| any funds transferred in excess of the investment account |
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| balance shall be treated as interest income and allocated |
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| across State funds according to existing State law governing |
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| interest income, including allocating interest income to the |
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| General Revenue Fund. |
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| (b) The State Treasurer may retain a balance in the |