101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
SB2770

 

Introduced 2/4/2020, by Sen. Dan McConchie

 

SYNOPSIS AS INTRODUCED:
 
25 ILCS 155/4  from Ch. 63, par. 344

    Amends the Commission on Government Forecasting and Accountability Act. Provides that the Commission on Government Forecasting and Accountability shall publish a quarterly report (currently, one report at the convening of each regular session of the General Assembly) on the estimated income of the State from all applicable revenue sources for the next ensuing fiscal year and of any other funds estimated to be available for such fiscal year. Provides that upon each report, the Commission shall issue a revised and updated set of revenue figures reflecting the latest available information. Makes conforming changes.


LRB101 17990 RJF 67428 b

 

 

A BILL FOR

 

SB2770LRB101 17990 RJF 67428 b

1    AN ACT concerning State government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Commission on Government Forecasting and
5Accountability Act is amended by changing Section 4 as follows:
 
6    (25 ILCS 155/4)  (from Ch. 63, par. 344)
7    Sec. 4. (a) The Commission shall publish, at the convening
8of each regular session of the General Assembly, a quarterly
9report on the estimated income of the State from all applicable
10revenue sources for the next ensuing fiscal year and of any
11other funds estimated to be available for such fiscal year.
12Upon each report, the Commission shall issue a revised and
13updated set of revenue figures reflecting the latest available
14information. The Commission, in its discretion, may consult
15with the Governor's Office of Management and Budget in
16preparing each the report. On the third Wednesday in March
17after the session convenes, the Commission shall issue a
18revised and updated set of revenue figures reflecting the
19latest available information. The House and Senate by joint
20resolution shall adopt or modify such estimates as may be
21appropriate. The joint resolution shall constitute the General
22Assembly's estimate, under paragraph (b) of Section 2 of
23Article VIII of the Constitution, of the funds estimated to be

 

 

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1available during the next fiscal year.
2    (b) On the third Wednesday in March, the Commission shall
3issue estimated:
4        (1) pension funding requirements under P.A. 86-273;
5    and
6        (2) liabilities of the State employee group health
7    insurance program.
8    These estimated costs shall be for the fiscal year
9beginning the following July 1.
10    (c) The requirement for reporting to the General Assembly
11shall be satisfied by filing copies of the report as required
12by Section 3.1 of the General Assembly Organization Act, and
13filing such additional copies with the State Government Report
14Distribution Center for the General Assembly as is required
15under paragraph (t) of Section 7 of the State Library Act.
16(Source: P.A. 100-1148, eff. 12-10-18.)