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    AN ACT concerning finance.

 
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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 State Finance Act is amended  by changing 
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Section 8h as follows:
 



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    (30 ILCS 105/8h)



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    Sec. 8h. Transfers to General Revenue Fund. 
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Notwithstanding any other
State law to the contrary, the 
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Director of the
Governor's Office of Management and Budget

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Bureau of the Budget
may from time to time direct the State 
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Treasurer and Comptroller to transfer
a specified sum from any 
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fund held by the State Treasurer to the General
Revenue Fund in 
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order to help defray the State's operating costs for the
fiscal 
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year.  The total transfer under this Section from any fund in 
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any
fiscal year shall not exceed the lesser of 8% of the 
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revenues to be deposited
into the fund during that year or 25% 
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of the beginning balance in the fund.
No transfer may be made 
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from a fund under this Section that would have the
effect of 
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reducing the available balance in the fund to an amount less 
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than
the amount remaining unexpended and unreserved from the 
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total appropriation
from that fund for that fiscal year.  This 
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Section does not apply to any
funds that are restricted by 
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federal law to a specific use or to any funds in
the Motor Fuel 
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Tax Fund. No transfers may be made under this Section from the 
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Road Fund or the State Construction Account Fund on or after 
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the effective date of this amendatory Act of the 93rd General 
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Assembly.
Notwithstanding any other provision of this Section,

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the total transfer under this Section from the Road Fund or the 
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State
Construction Account Fund shall not exceed 5% of the 
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revenues to be deposited
into the fund during that year.

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    In determining the available balance in a fund, the 
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Director of the
Governor's Office of Management and Budget

 


 






SB2682 Engrossed
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Bureau of the Budget
may include receipts, transfers into the 
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fund, and other
resources anticipated to be available in the 
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fund in that fiscal year.

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    The State Treasurer and Comptroller shall transfer the 
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amounts designated
under this Section as soon as may be 
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practicable after receiving the direction
to transfer from the 
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Director of the Governor's Office of Management and
Budget

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Bureau of the Budget.

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(Source: P.A. 93-32, eff. 6-20-03; revised 8-21-03.)

 

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    Section 99. Effective date. This Act takes effect on July 
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1, 2004.