SB2458 Summary

• Amends the State Finance Act to authorize transfers from 184 specified state funds totaling approximately $24.3 million into the Audit Expense Fund within 30 days of the bill's effective date.

• Directs the State Comptroller to order and the State Treasurer to execute these transfers from various dedicated and special funds (including the General Revenue Fund, Education Assistance Fund, Common School Fund, and Road Fund) to cover audit expenses.

• Permits the Auditor General to bill non-state entities (private entities, related organizations, and locally-held funds) for audit, study, and investigation costs, with revenues deposited into the Audit Expense Fund.

• Establishes that funds unavailable for transfer due to deficiency shall be supplemented from the General Revenue Fund to ensure the Audit Expense Fund receives necessary moneys for operations under the Illinois State Auditing Act.

• Takes effect immediately upon becoming law.