SB 2

  • Illinois Senate Bill
  • 99th Regular Session
  • Introduced in Senate
  • Senate
  • House
  • Governor

Finance Act Transfer Authority

Abstract

Amends the State Finance Act. Provides that no transfers may be made from the General Revenue Fund to certain special funds without additional express authority granted on or after the effective date of this amendatory Act. Provides that the purpose of the amendatory Act is to evaluate spending from the General Revenue Fund for Fiscal Year 2016, in order to determine the impact that transfers to certain Funds supported by set statutory formulas have on the cash flow of the State throughout the course of the State's fiscal year. Provides that beginning on July 1, 2019, all outstanding liabilities, not payable during the 4-month lapse period, are limited to only those claims that have been incurred but for which a proper bill or invoice as defined by the State Prompt Payment Act has been received by September 30th following the end of the fiscal year in which the service was rendered. Effective immediately.

Bill Sponsors (1)

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Jan 10, 2017

Senate

Session Sine Die

Oct 10, 2015

Senate

Pursuant to Senate Rule 3-9(b) / Referred to Assignments

Jan 28, 2015

Senate

Assigned to Appropriations II

Jan 15, 2015

Senate

Prefiled with Secretary by Sen. Dan Kotowski

Senate

Referred to Assignments

Senate

Chief Co-Sponsor Sen. Heather A. Steans

Senate

First Reading

Bill Text

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