Illinois SB 536: FINANCE-TECH

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB0536

Introduced 1/24/2025, by Sen. Don Harmon 

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.

LRB104 06765 RLC 16801 b

A BILL FOR

SB0536LRB104 06765 RLC 16801 b

1 AN ACT concerning finance.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Short Term Borrowing Act is amended by 

5changing Section 1 as follows:

6 (30 ILCS 340/1) (from Ch. 120, par. 406)

7 Sec. 1. Cash flow borrowing. Whenever significant timing 

8variations occur between disbursement and and receipt of 

9budgeted funds within a fiscal year, making it necessary to 

10borrow in anticipation of revenues to be collected in a fiscal 

11year, in order to meet the same, the Governor, Comptroller and 

12Treasurer may contract debts, in an amount not exceeding 5% of 

13the State's appropriations for that fiscal year, and moneys 

14thus borrowed shall be applied to the purpose for which they 

15were obtained, or to pay the costs of borrowing and the debts 

16thus created, and to no other purpose. All moneys so borrowed 

17shall be repaid by the close of the fiscal year in which 

18borrowed.

19(Source: P.A. 101-630, eff. 5-29-20.)

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