(305 ILCS 5/5-16.4)
Sec. 5-16.4. Medical Assistance Provider Payment Fund.
(a) There is created in the State treasury the Medical Assistance Provider Payment Fund. Interest earned by the Fund shall be credited to the Fund.
(b) The Fund is created for the purpose of disbursing moneys as follows:
(1) For medical services provided to recipients of
aid under Articles V, VI, and XII.
(2) For payment of administrative expenses incurred
by the Illinois Department or its agent in performing the activities authorized by this Section.
(3) For making transfers to the General Obligation
Bond Retirement and Interest Fund, as those transfers are authorized in the proceedings authorizing debt under the Medicaid Liability Liquidity Borrowing Act, but transfers made under this paragraph (3) may not exceed the principal amount of debt issued under that Act.
Disbursements from the Fund, other than transfers to the General Obligation Bond Retirement and Interest Fund (which shall be made in accordance with the provisions of the Medicaid Liability Liquidity Borrowing Act), shall be by warrants drawn by the State Comptroller upon receipt of vouchers duly executed and certified by the Illinois Department.
(c) The Fund shall consist of the following:
(1) All federal matching funds received by the
Illinois Department as a result of expenditures made by the Illinois Department that are attributable to moneys deposited into the Fund.
(2) Proceeds from any short-term borrowing directed
to the Fund by the Governor pursuant to the Medicaid Liability Liquidity Borrowing Act.
(3) Amounts transferred into the Fund under
subsection (d) of this Section.
(4) All other moneys received for the Fund from any
other source, including interest earned on those moneys.
(d) Beginning July 1, 1995, on the 13th and 26th days of each month the State Comptroller and Treasurer shall transfer from the General Revenue Fund to the Medical Assistance Provider Payment Fund an amount equal to 1/48th of the annual Medical Assistance appropriation to the Department of Healthcare and Family Services (formerly Illinois Department of Public Aid) from the Medical Assistance Provider Payment Fund, plus cumulative deficiencies from those prior transfers. In addition to those transfers, the State Comptroller and Treasurer may transfer from the General Revenue Fund to the Medical Assistance Provider Payment Fund as much as is necessary to pay claims pursuant to the new twice-monthly payment schedule established in Section 5-16.5 and to avoid interest liabilities under the State Prompt Payment Act. No transfers made pursuant to this subsection shall interfere with the timely payment of the general State aid payment made pursuant to Section 18-11 of the School Code.
(Source: P.A. 95-331, eff. 8-21-07.)
Sections: Previous 5-14 5-15 5-15.5 5-16 5-16.1 5-16.2 5-16.3 5-16.4 5-16.5 5-16.6 5-16.7 5-16.7a 5-16.8 5-16.9 5-16.10 Next
Last modified: February 18, 2015