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| | HB1355 Engrossed | | LRB097 07051 HLH 47144 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Department of Revenue Law of the
Civil |
| 5 | | Administrative Code of Illinois is amended by adding Section |
| 6 | | 2505-755 as follows:
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| 7 | | (20 ILCS 2505/2505-755 new) |
| 8 | | Sec. 2505-755. Deposit of State funds. Notwithstanding any |
| 9 | | other provision of law, the proceeds from any tax imposed by |
| 10 | | the State and collected and administered by the Department |
| 11 | | shall be deposited into the appropriate account with the State |
| 12 | | Treasurer within 3 business days after the proceeds are |
| 13 | | received by the Department. If the funds are required by law to |
| 14 | | be deposited into a specific fund in the State treasury for |
| 15 | | subsequent transfer by law into another fund in the State |
| 16 | | treasury, then the 3-business day requirement under this |
| 17 | | Section applies only after the funds are released by the |
| 18 | | Treasurer to the Department for deposit into the first fund. |
| 19 | | The subsequent transfer shall be made in accordance with the |
| 20 | | applicable statute.
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| 21 | | Section 10. The State Finance Act is amended by adding |
| 22 | | Section 4.2 as follows:
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