Bill > SB2610

This bill amends the State Finance Act to modify fund transfer provisions for the Audit Expense Fund. Specifically, the bill updates the transfer dates and amounts from various state funds to the Audit Expense Fund, changing the transfer date from July 1, 2024 to July 1, 2025. The bill includes a detailed list of numerous state funds from which money will be transferred, with specific dollar amounts for each fund. These transfers are intended to support the costs of audits, studies, and investigations conducted by the Auditor General. The bill authorizes the transfer of funds from multiple state accounts, including major funds like the General Revenue Fund, which will transfer $17,653,153, and smaller funds like the Academic Quality Assurance Fund, which will transfer $940. The legislation ensures that the Audit Expense Fund can receive the necessary funding to conduct its required auditing activities, with provisions for transferring additional funds from the General Revenue Fund if needed. The bill takes effect immediately upon becoming law.

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2610&GAID=18&DocTypeID=SB&SessionID=114&GA=104