IL HB4560

Authorizes the Illinois State Treasurer to bring claims against warrantors of drafts for breach of presentment warranty to recover State funds under Uniform Commercial Code Sections 3-417 and 4-208

Exempts the State Treasurer from the standard limitations periods that typically apply to presentment warranty claims under the UCC

Declares that these changes are "declaratory of existing law," asserting the State already possessed these powers

Takes effect immediately upon becoming law

Amends the State Treasurer Act by adding new Section 11.5