IL SB0265

Authorizes transfers totaling $356,038,973 from 187 designated special funds into the General Revenue Fund to improve stability, effective only if Senate Bill 1433 of the 96th General Assembly becomes law.

Transfers are to be made in four equal quarterly installments beginning July 1, 2009, with subsequent transfers on October 1, January 1, and April 1.

Allows the State Treasurer and State Comptroller to transfer funds from the General Revenue Fund back to any special fund that lacks sufficient cash to meet expenditure obligations between the effective date and June 30, 2010.

Permits the Governor's Office of Management and Budget Director to order return of transferred amounts if a transfer jeopardizes federal funding or violates a court order.