IL HB2565

Amends the State Finance Act to authorize transfers from 129 specified state funds into the Audit Expense Fund within 30 days of the act's effective date.

Transfers specified dollar amounts from funds including General Revenue Fund ($17,653,153), Education Assistance Fund ($894,514), State Pensions Fund ($500,000), and numerous smaller state funds to cover audit expenses.

Authorizes the Auditor General to bill entities not subject to transfer provisions (private entities, related organizations, locally-held funds) for audit costs, with revenues deposited into the Audit Expense Fund.

Requires the Auditor General to notify the Governor's Office of Management and Budget annually by December 1 of estimated audit costs for the following fiscal year, and permits direction of transfers from authorized funds.

Takes effect immediately upon becoming law.