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IL HB4433

Bill

Status

Failed

1/8/2019

Primary Sponsor

Robert Rita

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Origin

House of Representatives

100th General Assembly

AI Summary

HB4433 Summary

  • 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.

  • 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.

  • 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.

  • 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.

  • 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

Committee Referrals

Assignments5/8/2018
Appropriations-General Service3/21/2018
Rules1/31/2018

Full Bill Text

No bill text available