Bill > SB3249

This bill amends the State Finance Act to adjust the timing and sources of funds transferred into the Audit Expense Fund, which is used for audits, studies, and investigations conducted by the Auditor General as outlined in the Illinois State Auditing Act. Specifically, it mandates that by July 1, 2026, or shortly thereafter, specified amounts will be transferred from a list of various state funds into the Audit Expense Fund, replacing amounts that were previously scheduled for transfer in 2025. The bill also clarifies that these transfers are authorized even if they might otherwise be restricted by law, with exceptions for federal trust funds and State trust funds unless their agreements permit such transfers. The Auditor General is required to inform trustees of these funds about audit costs, and trustees can direct transfers. The bill also allows the Auditor General to bill private entities for audit costs, with those revenues also going to the Audit Expense Fund, and establishes procedures for returning excess funds to their original sources. This Act takes effect immediately upon becoming law.

https://www.ilga.gov/Legislation/BillStatus?DocNum=3249&GAID=18&DocTypeID=SB&SessionID=114&GA=104