Sec. 10. Budget Reserve for Immediate Disbursements and Governmental Emergencies Fund.
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/il/chapter-20/act-3005/10A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 10. Budget Reserve for Immediate Disbursements and Governmental Emergencies Fund.
(a)There is created in the State treasury as a special fund the Budget Reserve for Immediate Disbursements and Governmental Emergencies (BRIDGE) Fund. The Fund may receive revenue from any authorized source, including, but not limited to, gifts, grants, awards, transfers, and appropriated deposits. Moneys in the fund shall be used to provide supplemental moneys for other funds held in the State treasury in the event of unanticipated delays in or failures of revenues when supplemental moneys are required to effectuate appropriations enacted by the General Assembly.
(b)Upon the written direction of the Governor, the State Comptroller shall direct, and the State Treasurer shall transfer, specified amounts held in the BRIDGE Fund to specified funds in the State treasury for expenditure pursuant to appropriations from funds so specified. Upon the written direction of the Governor, the State Comptroller shall direct, and the State Treasurer shall transfer, specified amounts from funds in the State treasury that have received transfers from the BRIDGE Fund to repay, in whole or in part, amounts previously transferred pursuant to this subsection (b).