Bill Text: IL SB3258 | 2009-2010 | 96th General Assembly | Introduced

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Bill Title: Amends the State Finance Act. Makes a technical change in a Section concerning the Road Fund.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-02-09 - Referred to Assignments [SB3258 Detail]

Download: Illinois-2009-SB3258-Introduced.html

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96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 SB3258 Introduced 2/9/2010, by Sen. Martin A. Sandoval SYNOPSIS AS INTRODUCED:
30 ILCS 105/5e from Ch. 127, par. 141e
Amends the State Finance Act. Makes a technical change in a Section concerning the Road Fund.
LRB096 20434 HLH 36088 b
A BILL FOR
SB3258 LRB096 20434 HLH 36088 b
AN ACT concerning finance.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The State Finance Act is amended by changing
Section 5e as follows:
(30 ILCS 105/5e) (from Ch. 127, par. 141e)
Sec. 5e. The The Governor, in his discretion, when he deems
it necessary for payments of the State's obligations, may
authorize transfers from the Road Fund to the State
Construction Account Fund. Any amount so transferred shall be
retransferred from the State Construction Account Fund to the
Road Fund by the end of the fiscal year in which the transfer
was made. The transfers out of the Road Fund shall not exceed
$35,000,000 in any fiscal year. No transfers from the Road Fund
which impair the obligations of the State shall be authorized.
The Comptroller and the Treasurer, upon receipt of
authorization from the Governor, shall make transfers in
accordance with this Section. In the event the Governor fails
to authorize the retransfer into the Road Fund as required by
this Section, the Comptroller and the Treasurer shall make such
retransfer.
(Source: P.A. 84-431.)