If an agency incurs an interest liability under this Act that is ordinarily payable from the Budget Stabilization Fund, but the agency has insufficient appropriation authority from the Budget Stabilization Fund to make the interest payment at the time the interest payment is due, the agency is authorized to pay the interest from its available appropriations from the General Revenue Fund.
30 ILCS 540/3-5
Budget Stabilization Fund; insufficient appropriation
Known as the State Prompt Payment Act
The act spans §§ 30-540-0-01 to 30-540-9 (23 sections).
P.A. 100-23, eff. 7-6-17.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.