102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB3399

 

Introduced 2/22/2021, by Rep. Deanne M. Mazzochi

 

SYNOPSIS AS INTRODUCED:
 
25 ILCS 155/3  from Ch. 63, par. 343

    Amends the Commission on Government Forecasting and Accountability Act. Provides that the Commission on Government Forecasting and Accountability shall study the property tax laws of Florida, Tennessee, and Texas and report to the Governor and the General Assembly no later than December 31, 2021. Effective immediately.


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FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB3399LRB102 13580 HLH 18928 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 3 as
6follows:
 
7    (25 ILCS 155/3)  (from Ch. 63, par. 343)
8    Sec. 3. The Commission shall:
9        (1) Study from time to time and report to the General
10    Assembly on economic development and trends in the State.
11        (2) Make such special economic and fiscal studies as
12    it deems appropriate or desirable or as the General
13    Assembly may request.
14        (3) Based on its studies, recommend such State fiscal
15    and economic policies as it deems appropriate or desirable
16    to improve the functioning of State government and the
17    economy of the various regions within the State.
18        (4) Prepare annually a State economic report.
19        (5) Provide information for all appropriate
20    legislative organizations and personnel on economic trends
21    in relation to long range planning and budgeting.
22        (6) Study and make such recommendations as it deems
23    appropriate to the General Assembly on local and regional

 

 

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1    economic and fiscal policy and on federal fiscal policy as
2    it may affect Illinois.
3        (7) Review capital expenditures, appropriations and
4    authorizations for both the State's general obligation and
5    revenue bonding authorities. At the direction of the
6    Commission, specific reviews may include economic
7    feasibility reviews of existing or proposed revenue bond
8    projects to determine the accuracy of the original
9    estimate of useful life of the projects, maintenance
10    requirements and ability to meet debt service requirements
11    through their operating expenses.
12        (8) Receive and review all executive agency and
13    revenue bonding authority annual and 3 year plans. The
14    Commission shall prepare a consolidated review of these
15    plans, an updated assessment of current State agency
16    capital plans, a report on the outstanding and unissued
17    bond authorizations, an evaluation of the State's ability
18    to market further bond issues and shall submit them as the
19    "Legislative Capital Plan Analysis" to the House and
20    Senate Appropriations Committees at least once a year. The
21    Commission shall annually submit to the General Assembly
22    on the first Wednesday of April a report on the State's
23    long-term capital needs, with particular emphasis upon and
24    detail of the 5-year period in the immediate future.
25        (9) Study and make recommendations it deems
26    appropriate to the General Assembly on State bond

 

 

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1    financing, bondability guidelines, and debt management. At
2    the direction of the Commission, specific studies and
3    reviews may take into consideration short and long-run
4    implications of State bonding and debt management policy.
5        (10) Comply with the provisions of the "State Debt
6    Impact Note Act" as now or hereafter amended.
7        (11) Comply with the provisions of the Pension Impact
8    Note Act, as now or hereafter amended.
9        (12) By August 1st of each year, the Commission must
10    prepare and cause to be published a summary report of
11    State appropriations for the State fiscal year beginning
12    the previous July 1st. The summary report must discuss
13    major categories of appropriations, the issues the General
14    Assembly faced in allocating appropriations, comparisons
15    with appropriations for previous State fiscal years, and
16    other matters helpful in providing the citizens of
17    Illinois with an overall understanding of appropriations
18    for that fiscal year. The summary report must be written
19    in plain language and designed for readability.
20    Publication must be in newspapers of general circulation
21    in the various areas of the State to ensure distribution
22    statewide. The summary report must also be published on
23    the General Assembly's web site.
24        (13) Comply with the provisions of the State
25    Facilities Closure Act.
26        (14) For fiscal year 2012 and thereafter, develop a

 

 

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1    3-year budget forecast for the State, including
2    opportunities and threats concerning anticipated revenues
3    and expenditures, with an appropriate level of detail.
4        (15) Perform the powers, duties, rights, and
5    responsibilities of the Legislative Research Unit as
6    transferred to the Commission under Section 7.
7        (16) Study the property tax laws of Florida,
8    Tennessee, and Texas and report to the Governor and the
9    General Assembly no later than December 31, 2021.
10    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.)
 
17    Section 99. Effective date. This Act takes effect upon
18becoming law.