Sec. 5. Special funds.
225 words·~1 min read·
/il/chapter-30/act-105/5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 5. Special funds.
(a)There are special funds in the State Treasury designated as specified in the Sections which succeed this Section 5 and precede Section 5d.
(b)Except as provided in the Illinois Vehicle Hijacking and Motor Vehicle Theft Prevention and Insurance Verification Act, when any special fund in the State Treasury is discontinued by an Act of the General Assembly, any balance remaining therein on the effective date of such Act shall be transferred to the General Revenue Fund, or to such other fund as such Act shall provide. Warrants outstanding against such discontinued fund at the time of the transfer of any such balance therein shall be paid out of the fund to which the transfer was made.
(c)When any special fund in the State Treasury has been inactive for 18 months or longer, the Comptroller may terminate the fund, and the balance remaining in such fund shall be transferred by the Comptroller to the General Revenue Fund. When a special fund has been terminated by the Comptroller as provided in this Section, the General Assembly shall repeal or amend all Sections of the statutes creating or otherwise referring to that fund.
The Comptroller shall be allowed the discretion to maintain or dissolve any federal trust fund which has been inactive for 18 months or longer.
(d)(Blank).
(e)(Blank).