HR0389enr 98TH GENERAL ASSEMBLY

HR0389 Enrolled LRB098 12237 JDS 46363 r

HOUSE RESOLUTION 389

WHEREAS, Under subsection (b) of Section 2 of Article VIII of the Illinois Constitution, appropriations for a fiscal year shall not exceed funds estimated by the General Assembly to be available during that year; and

WHEREAS, On March 5, 2013, the Illinois House of Representatives adopted House Resolution No. 83, which set the general funds revenue estimates for Fiscal Year 2014; and

WHEREAS, On May 27, 2013, the Governor's Office of Management and Budget, the Illinois Department of Revenue, and the Commission on Government Forecasting and Accountability testified to the House Revenue and Finance Committee that there is no longer a backlog of personal and corporate income tax refunds owed to taxpayers; and

WHEREAS, Given the information provided, the House of Representatives finds that the Fiscal Year 2014 revenue estimates should be revised to reflect the most recent data provided to the House Revenue and Finance Committee; and

WHEREAS, Eliminating the backlog of personal and corporate income tax refunds has resulted in a surplus that will be transferred to the General Revenue Fund at the end of Fiscal Year 2013; and

WHEREAS, A conservative reduction in the personal and corporate income tax refund rate is more accurate in estimating refunds owed to Illinois taxpayers for Fiscal Year 2014; therefore, be it

RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE NINETY-EIGHTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that the House of Representatives estimates the general funds to be available during State fiscal year 2014 as follows: