Funds by Fund Number with Statutory Language
warrant or other payment, the amount deducted therefrom, and on what account, and directing the payment of the balance;
which warrant or payment as so drawn shall be entered on the books of the Treasurer, and such balance only shall be paid.
The Comptroller may deduct the entire amount due and payable to the State or may deduct a portion of the amount due and
payable to the State in accordance with the request of the notifying agency. No request from a notifying agency for an
amount to be deducted under this Section from a wage or salary payment, or from a contractual payment to an individual for
personal services, shall exceed 25% of the net amount of such payment. "Net amount" means that part of the earnings of an
individual remaining after deduction of any amounts required by law to be withheld. For purposes of this provision, wage,
salary or other payments for personal services shall not include final compensation payments for the value of accrued
vacation, overtime or sick leave. Whenever the Comptroller draws a warrant or makes a payment involving a deduction
ordered under this Section, the Comptroller shall notify the payee and the State agency that submitted the voucher of the
reason for the deduction and he or she shall retain a record of such statement in his or her records. As used in this Section, an
"account or claim in favor of the State" includes all amounts owing to "State agencies" as defined in Section 7 of this Act.
However, the Comptroller shall not be required to accept accounts or claims owing to funds not held by the State Treasurer,
where such accounts or claims do not exceed $50, nor shall the Comptroller deduct from funds held by the State Treasurer
under the Senior Citizens and Disabled Persons Property Tax Relief and Pharmaceutical Assistance Act or for payments to
institutions from the Illinois Prepaid Tuition Trust Fund (unless the Trust Fund moneys are used for child support). The
Comptroller and the Department of the Lottery shall enter into an interagency agreement to establish responsibility, duties,
and procedures relating to deductions from lottery prizes awarded under Section 20.1 of the Illinois Lottery Law.
Fund Number 0663 Federal Student Loan Fund
Chapter 0110 Act 0947 Section 113
Fund Group: Federal Trust Fund Total Revenue FY05: $130,521,714
Total Revenue FY06: $151,970,831
Fund Type: Appropriated
Administering Agency: Illinois Student Assistance Commission
Statutory Language:
The Student Assistance Commission shall create the Federal Student Loan Fund, the Student Loan Operating Fund, and the
Federal Reserve Recall Fund. At the request of the Commission's Executive Director, the Comptroller shall transfer funds,
as necessary, from the Student Assistance Commission Student Loan Fund into the Federal Student Loan Fund, the Student
Loan Operating Fund, and the Federal Reserve Recall Fund. On or before August 31, 2000, the Commission's Executive
Director shall request the Comptroller to transfer all funds from the Student Assistance Commission Student Loan Fund into
any of the following funds: the Federal Student Loan Fund, the Student Loan Operating Fund, or the Federal Reserve Recall
Fund. On September 1, 2000, the Student Assistance Commission Student Loan Fund is abolished. Any future liabilities of
this abolished fund shall be assignable to the appropriate fund created as one of its successors.
Fund Purpose: The purpose of this fund is to receive and record transfers from the Student Assistance Commission
Student Loan Fund. The Fund is one of three that will replace the Student Assistance Commission
Student Loan Fund.
Fund Number 0664 Student Loan Operating Fund
Chapter 0110 Act 0947 Section 113
Fund Group: Federal Trust Fund Total Revenue FY05: $35,457,534
Total Revenue FY06: $37,798,758
Fund Type: Appropriated
Administering Agency: Illinois Student Assistance Commission
Statutory Language:
Fund Purpose: The purpose of this fund is to receive and record transfers from the Student Assistance Commission
Student Loan Fund. The Fund is one of three that will replace the Student Assistance Commission
Student Loan Fund.
Funds by Fund Number with Statutory Language Page 340
