HB 1564

Abstract

Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that no new Agreements may be entered into under the Act on or after the effective date of the amendatory Act. Amends the State Finance Act. Creates the Foster Homes and Specialized Foster Care Fund and the Permanent Unpaid Bill Repayment Fund. Provides that moneys in the Foster Homes and Specialized Foster Care Fund shall be used by the Department of Children and Family Services for the purpose of providing specialized care to children who are in a subsidized guardianship arrangement or under an adoption assistance agreement and require specialized services because of emotional, behavioral, developmental, or medical needs. Provides for transfers from the General Revenue Fund to the Foster Homes and Specialized Foster Care Fund. Provides that excess moneys in the Foster Homes and Specialized Foster Care Fund shall be transferred to the Permanent Unpaid Bill Repayment Fund. Provides that moneys in the Permanent Unpaid Bill Repayment Fund shall be used to make payments to bona fide creditors of the State. Effective immediately.