IL HB4569

Removes the word "all" from the State Comptroller Act's inventory control requirements, allowing the comptroller to maintain current inventory records of property held by State agencies without necessarily tracking every item.

Requires the Office of the Comptroller to define reporting requirements and thresholds for State agencies in the Statewide Accounting Management System (SAMS) manual.

Increases the single transaction limit for petty cash funds from $50 to $100, except for purchases made by procurement card which may not exceed $500.

Authorizes the Comptroller to establish rules for State agencies to use purchasing cards for purchases that would otherwise be paid from petty cash funds, with regulations covering issuance standards, transaction recording, auditing procedures, and vendor contracts.

Takes effect upon becoming law.