Bill > HB1704

This bill amends the State Finance Act to update the transfer of funds to the Audit Expense Fund for fiscal year 2025. Specifically, the bill changes the date of fund transfers from July 1, 2024, to July 1, 2025, and provides a comprehensive list of numerous state funds that will have specific monetary amounts transferred to the Audit Expense Fund. These transfers range from small amounts like $752 from the State Treasurer's Bank Services Trust Fund to larger amounts such as $17,653,153 from the General Revenue Fund. The bill ensures that these fund transfers will support the operational costs of audits, studies, and investigations conducted by the Auditor General as part of the Illinois State Auditing Act. The transfers apply to various state funds across different government departments and agencies, and include provisions for handling any potential fund transfer shortfalls by allowing transfers from the General Revenue Fund if needed. The bill becomes effective immediately upon passage.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1704&GAID=18&DocTypeID=HB&SessionID=114&GA=104