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IL SB0002
Bill
Status
1/15/2015
Primary Sponsor
Dan Kotowski
Click for details
AI Summary
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Prohibits transfers from the General Revenue Fund to 26 specific special funds during Fiscal Year 2016 without new statutory authority granted after the bill's effective date, including funds for agriculture, Alzheimer's research, homeless assistance, child abuse prevention, and various other programs.
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Establishes the purpose of evaluating General Revenue Fund spending impacts on state cash flow throughout the fiscal year by restricting transfers to funds supported by set statutory formulas.
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Effective July 1, 2019, limits outstanding liabilities payable beyond the standard 4-month lapse period to only those claims where a proper bill or invoice has been received by September 30th following the end of the fiscal year in which services were rendered.
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Amends Section 25 of the State Finance Act regarding fiscal year limitations on appropriations and outstanding liabilities.
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Takes effect immediately upon enactment.
Legislative Description
FINANCE ACT TRANSFER AUTHORITY
Last Action
Pursuant to Senate Rule 3-9(b) / Referred to Assignments
10/10/2015