Illinois Senate Bill SB2452

Illinois 2023-2024 Regular Session

• Introduced: 2/21/23
• Refer: 2/21/23

Caption

$APPROP-STATE TREASURER

Impact

The appropriations outlined in SB2452 will directly impact the financial operations of the State Treasurer’s office, providing specific sums for operational expenses such as tax refunds on protested cases and expenses covered under various funds, including the Bank Services Trust Fund and the General Revenue Fund. By securing sufficient funding for these areas, the bill aims to maintain stability and efficiency in the state's financial management, thereby reinforcing the Treasurer's capability to oversee state finances responsibly.

Summary

SB2452, introduced by Senator Elgie R. Sims, Jr., focuses on the allocation of financial resources through a series of appropriations from various state funds to the State Treasurer for operational purposes. The bill aims to ensure that the office of the State Treasurer has the necessary funds to carry out its duties effectively during the fiscal year ending June 30, 2024. The total amount detailed in the bill indicates a comprehensive approach to managing state resources while supporting essential functions of the Treasurer's office.

Contention

There are potential points of contention regarding how these appropriations align with the broader budgeting priorities of the state. While the bill aims to provide essential funds for the operations of the State Treasurer, debates may arise concerning the allocation of resources among various state departments. This could lead to discussions about the adequacy of funding for other pressing needs in the state budget versus the operational needs of the State Treasurer's office. Moreover, transparency and accountability in how these funds are utilized might also be scrutinized by the public and legislative members.

Additional_notes

The effective date specified in the bill is July 1, 2023, indicating that the appropriations will take effect at the beginning of the new fiscal period. The structured approach detailed in SB2452 demonstrates an effort to maintain financial order within the state’s governance, although the implications of such spending will continue to be evaluated as the fiscal year progresses.