Bill > SB2481

This bill amends the State Finance Act by removing previously scheduled provisions that would have repealed the Capital Development Board Revolving Fund on July 1, 2025. The bill maintains the existing structure of the Capital Development Board Revolving Fund, which is a special fund in the state treasury that receives monies from publications, contract administration fees, and other charges collected by the Capital Development Board. These funds can be used for various organizational expenses including personal services, retirement, social security, contractual services, legal services, travel, commodities, printing, equipment, electronic data processing, and telecommunications. Additionally, the fund may be used to support the Executive Ethics Commission for oversight and administration of the Chief Procurement Officer. The key change is the elimination of the previous sunset provision that would have automatically terminated the fund on July 1, 2025, effectively ensuring the continued operation of this financial mechanism for the Capital Development Board.

Government Affairs

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2481&GAID=18&DocTypeID=SB&SessionID=114&GA=104