Illinois 2023-2024 Regular Session

Illinois House Bill HB0948 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB0948 Introduced , by Rep. Emanuel Chris Welch SYNOPSIS AS INTRODUCED: 30 ILCS 340/1 from Ch. 120, par. 406 Amends the Short Term Borrowing Act. Makes a technical change in a Section concerning cash flow borrowing. LRB103 04576 HLH 49583 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB0948 Introduced , by Rep. Emanuel Chris Welch SYNOPSIS AS INTRODUCED: 30 ILCS 340/1 from Ch. 120, par. 406 30 ILCS 340/1 from Ch. 120, par. 406 Amends the Short Term Borrowing Act. Makes a technical change in a Section concerning cash flow borrowing. LRB103 04576 HLH 49583 b LRB103 04576 HLH 49583 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB0948 Introduced , by Rep. Emanuel Chris Welch SYNOPSIS AS INTRODUCED:
3	3	30 ILCS 340/1 from Ch. 120, par. 406 30 ILCS 340/1 from Ch. 120, par. 406
4	4	30 ILCS 340/1 from Ch. 120, par. 406
5	5	Amends the Short Term Borrowing Act. Makes a technical change in a Section concerning cash flow borrowing.
6	6	LRB103 04576 HLH 49583 b LRB103 04576 HLH 49583 b
7	7	LRB103 04576 HLH 49583 b
8	8	A BILL FOR
9	9	HB0948LRB103 04576 HLH 49583 b HB0948 LRB103 04576 HLH 49583 b
10	10	HB0948 LRB103 04576 HLH 49583 b
11	11	1 AN ACT concerning finance.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Short Term Borrowing Act is amended by
15	15	5 changing Section 1 as follows:
16	16	6 (30 ILCS 340/1) (from Ch. 120, par. 406)
17	17	7 Sec. 1. Cash flow borrowing. Whenever significant timing
18	18	8 variations occur between disbursement and and receipt of
19	19	9 budgeted funds within a fiscal year, making it necessary to
20	20	10 borrow in anticipation of revenues to be collected in a fiscal
21	21	11 year, in order to meet the same, the Governor, Comptroller and
22	22	12 Treasurer may contract debts, in an amount not exceeding 5% of
23	23	13 the State's appropriations for that fiscal year, and moneys
24	24	14 thus borrowed shall be applied to the purpose for which they
25	25	15 were obtained, or to pay the costs of borrowing and the debts
26	26	16 thus created, and to no other purpose. All moneys so borrowed
27	27	17 shall be repaid by the close of the fiscal year in which
28	28	18 borrowed.
29	29	19 (Source: P.A. 101-630, eff. 5-29-20.)
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33	33	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB0948 Introduced , by Rep. Emanuel Chris Welch SYNOPSIS AS INTRODUCED:
34	34	30 ILCS 340/1 from Ch. 120, par. 406 30 ILCS 340/1 from Ch. 120, par. 406
35	35	30 ILCS 340/1 from Ch. 120, par. 406
36	36	Amends the Short Term Borrowing Act. Makes a technical change in a Section concerning cash flow borrowing.
37	37	LRB103 04576 HLH 49583 b LRB103 04576 HLH 49583 b
38	38	LRB103 04576 HLH 49583 b
39	39	A BILL FOR
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45	45	30 ILCS 340/1 from Ch. 120, par. 406
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49	49	LRB103 04576 HLH 49583 b
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59	59	HB0948 LRB103 04576 HLH 49583 b