(30 ILCS 342/5)
Sec. 5. Borrowing authorized. For the period June 9, 2004 through June 30, 2004, borrowing pursuant to this Section is authorized under subsection (b) of Section 9 of Article IX of the Illinois Constitution. The purpose of the borrowing shall be to pay for medical services provided under the Illinois Public Aid Code or the Children's Health Insurance Program Act, and the Governor, after having obtained the written consent of both the Comptroller and the Treasurer, may contract debts, under this Section, for principal amounts not to exceed $850,000,000, as supported by properly enacted State fiscal year 2004 appropriations for this purpose. Moneys thus borrowed shall be applied to the purpose of paying for medical services as described in this Section, or to pay the debts and associated expenses thus incurred, and to no other purpose. All proceeds from any borrowing under this Act received by the State on or after the effective date of this amendatory Act of the 93rd General Assembly and before July 1, 2004 shall be deposited into the Medicaid Provider Relief Fund. All moneys so borrowed shall be borrowed for no longer time than one year.
(Source: P.A. 93-674, eff. 6-10-04.)
Sections: Previous 1 5 10 15 90 91 92 94 95 95.5 96 97 97.5 99 Next
Last modified: February 18, 2015