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IL HB4433
Bill
Status
1/8/2019
Primary Sponsor
Robert Rita
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AI Summary
HB4433 Summary
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Amends the State Finance Act to authorize transfers from 154 state funds to the Audit Expense Fund within 30 days of the bill's effective date, with specific dollar amounts designated for each fund.
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The General Revenue Fund contributes the largest transfer amount of $17,653,153, followed by The Education Assistance Fund at $1,230,281 and The Road Fund at $662,332.
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Authorizes the Auditor General to bill private entities, related organizations, and entities with locally-held funds for audit costs, with revenues deposited into the Audit Expense Fund.
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Requires the Auditor General to notify the Governor's Office of Management and Budget by December 1 annually of estimated audit costs and directs return of excess transferred amounts to originating funds by September 30 if transfers exceed actual audit costs.
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Permits transfers from federal and state trust funds only as directed in the bill, with trustees notified of estimated audit costs and required to authorize transfers accordingly.
Legislative Description
AUDIT EXPENSE FUND TRANSFERS
Last Action
Session Sine Die
1/8/2019