Budget & Taxes (Debt & Bonds)

SB 2602 is an appropriations bill that allocates specific funds to the Illinois State Treasurer's office for designated purposes. It directs $17.2 million from the Treasurer's Administrative Fund for operational expenses, $1 million for tax case interest refunds, $26.2 million from the State Pensions Fund for operations, and over $3.7 billion from the General Obligation Bond Retirement Fund to cover principal and interest on state bonds. Additional allocations include $1 million for arbitrage rebates, $1 million for charitable trust administration, and $500,000 for building maintenance. The bill takes effect July 1, 2025, and solely authorizes funding without creating new policy or directly affecting residents.