95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB2332

 

Introduced 2/14/2008, by Sen. Jeffrey M. Schoenberg

 

SYNOPSIS AS INTRODUCED:
 
15 ILCS 20/50-5   was 15 ILCS 20/38
15 ILCS 20/50-5.5 new
25 ILCS 155/4   from Ch. 63, par. 344

    Amends the State Budget Law of the Civil Administrative Code of Illinois and the Commission on Government Forecasting and Accountability Act. Creates a Revenue Estimating Council consisting of the Governor, the State Comptroller, and the co-chairs of the Commission on Government Forecasting and Accountability. Beginning in 2009, requires the Council to estimate the State's revenues and fund availability and to report and update the estimates to the Governor and General Assembly. Effective immediately.


LRB095 17991 JAM 44074 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB2332 LRB095 17991 JAM 44074 b

1     AN ACT concerning State government.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The State Budget Law of the Civil Administrative
5 Code of Illinois is amended by changing Section 50-5 and by
6 adding Section 50-5.5 as follows:
 
7     (15 ILCS 20/50-5)  (was 15 ILCS 20/38)
8     Sec. 50-5. Governor to submit State budget. The Governor
9 shall, as soon as possible and not later than the first
10 Wednesday in March in 2007 (March 7, 2007) and the third
11 Wednesday in February of each year beginning in 2008, except as
12 otherwise provided in this Section, submit a State budget,
13 embracing therein the amounts recommended by the Governor to be
14 appropriated to the respective departments, offices, and
15 institutions, and for all other public purposes, the estimated
16 revenues from taxation, the estimated revenues from sources
17 other than taxation, and an estimate of the amount required to
18 be raised by taxation. In 2004 only, the Governor shall submit
19 the capital development section of the State budget not later
20 than the fourth Tuesday of March (March 23, 2004). The amounts
21 recommended by the Governor for appropriation to the respective
22 departments, offices and institutions shall be formulated
23 according to the various functions and activities for which the

 

 

SB2332 - 2 - LRB095 17991 JAM 44074 b

1 respective department, office or institution of the State
2 government (including the elective officers in the executive
3 department and including the University of Illinois and the
4 judicial department) is responsible. The amounts relating to
5 particular functions and activities shall be further
6 formulated in accordance with the object classification
7 specified in Section 13 of the State Finance Act.
8     The Governor shall not propose expenditures and the General
9 Assembly shall not enact appropriations that exceed the
10 resources estimated to be available, as provided in this
11 Section.
12     For the purposes of Article VIII, Section 2 of the 1970
13 Illinois Constitution, the State budget for the following funds
14 shall be prepared on the basis of revenue and expenditure
15 measurement concepts that are in concert with generally
16 accepted accounting principles for governments:
17         (1) General Revenue Fund.
18         (2) Common School Fund.
19         (3) Educational Assistance Fund.
20         (4) Road Fund.
21         (5) Motor Fuel Tax Fund.
22         (6) Agricultural Premium Fund.
23     These funds shall be known as the "budgeted funds". The
24 revenue estimates used in the State budget for the budgeted
25 funds shall include the estimated beginning fund balance, plus
26 revenues estimated to be received during the budgeted year,

 

 

SB2332 - 3 - LRB095 17991 JAM 44074 b

1 plus the estimated receipts due the State as of June 30 of the
2 budgeted year that are expected to be collected during the
3 lapse period following the budgeted year, minus the receipts
4 collected during the first 2 months of the budgeted year that
5 became due to the State in the year before the budgeted year.
6 Revenues shall also include estimated federal reimbursements
7 associated with the recognition of Section 25 of the State
8 Finance Act liabilities. For any budgeted fund for which
9 current year revenues are anticipated to exceed expenditures,
10 the surplus shall be considered to be a resource available for
11 expenditure in the budgeted fiscal year.
12     Expenditure estimates for the budgeted funds included in
13 the State budget shall include the costs to be incurred by the
14 State for the budgeted year that are , to be paid in the next
15 fiscal year, excluding costs paid in the budgeted year which
16 were carried over from the prior year, where the payment is
17 authorized by Section 25 of the State Finance Act. For any
18 budgeted fund for which expenditures are expected to exceed
19 revenues in the current fiscal year, the deficit shall be
20 considered as a use of funds in the budgeted fiscal year.
21     Revenues and expenditures shall also include transfers
22 between funds that are based on revenues received or costs
23 incurred during the budget year.
24     By March 15 of each year and until the Revenue Estimating
25 Council is established, the Commission on Government
26 Forecasting and Accountability shall prepare revenue and fund

 

 

SB2332 - 4 - LRB095 17991 JAM 44074 b

1 transfer estimates in accordance with the requirements of this
2 Section and report those estimates to the General Assembly and
3 the Governor.
4     For all funds other than the budgeted funds, the proposed
5 expenditures shall not exceed funds estimated to be available
6 for the fiscal year as shown in the budget. Appropriation for a
7 fiscal year shall not exceed (i) funds estimated by the General
8 Assembly to be available during that year as contained within
9 the joint resolution adopted by the General Assembly in
10 accordance with Section 50-5.5 of this Act or (ii) funds
11 estimated to be available in accordance with this Section prior
12 to the effective date of this amendatory Act of the 95th
13 General Assembly.
14 (Source: P.A. 93-1, eff. 2-6-03; 93-662, eff. 2-11-04; 93-1067,
15 eff. 1-15-05; 94-1108, eff. 2-16-07.)
 
16     (15 ILCS 20/50-5.5 new)
17     Sec. 50-5.5. Revenue Estimating Council.
18     (a) There is created a Revenue Estimating Council,
19 consisting of the Governor, the State Comptroller, and the
20 co-chairs of the Commission on Government Forecasting and
21 Accountability (who together shall have one vote on the
22 Council), or their designees.
23     (b) By January 1, 2009 and by January 1 of each year
24 thereafter, the Revenue Estimating Council must prepare
25 revenue and fund transfer estimates in accordance with the

 

 

SB2332 - 5 - LRB095 17991 JAM 44074 b

1 requirements of Section 50-5 and report those estimates to the
2 General Assembly. In addition to the revenue and transfer
3 estimates, the Revenue Estimating Council must certify an
4 estimate of all income of the State from all applicable revenue
5 sources for the next ensuing fiscal year and of any other funds
6 estimated to be available for that fiscal year.
7     Notwithstanding any other provision of this subsection,
8 for the purpose of determining the estimates under this Section
9 for fiscal year 2010, the Revenue Estimating Council must use
10 the prior year's estimated general funds revenues as determined
11 by the Commission on Government Forecasting and
12 Accountability.
13     By April 15, 2009 and by April 15 of each year thereafter,
14 the Revenue Estimating Council must issue a report updating the
15 estimates required under this subsection as may be required
16 based on more recent information. Upon its issuance, the
17 Revenue Estimating Council must submit the revised report to
18 the Governor and the General Assembly. The House of
19 Representatives and Senate must adopt the report by joint
20 resolution. The joint resolution constitutes the General
21 Assembly's estimate, under subsection (b) of Section 2 of
22 Article VIII of the Illinois Constitution, of the funds
23 available during the next fiscal year.
24     (c) Prior to the beginning of the fiscal year, the Revenue
25 Estimating Council must prepare a cash flow estimate of the
26 general funds, identifying estimated revenues and cash

 

 

SB2332 - 6 - LRB095 17991 JAM 44074 b

1 expenditures for each quarter of the fiscal year. Each quarter
2 of the fiscal year, the Revenue Estimating Council must review
3 the revenue and cash expenditure estimates and issue a report
4 to the Governor and the General Assembly containing updates of
5 the estimates required under this subsection and notification
6 of potential budgetary shortfalls.
 
7     Section 10. The Commission on Government Forecasting and
8 Accountability Act is amended by changing Section 4 as follows:
 
9     (25 ILCS 155/4)  (from Ch. 63, par. 344)
10     Sec. 4. (a) The Commission shall publish, at the convening
11 of each regular session of the General Assembly, a report on
12 the estimated income of the State from all applicable revenue
13 sources for the next ensuing fiscal year and of any other funds
14 estimated to be available for such fiscal year. On the third
15 Wednesday in March after the session convenes, the Commission
16 shall issue a revised and updated set of revenue figures
17 reflecting the latest available information. In 2008, the The
18 House and Senate by joint resolution shall adopt or modify such
19 estimates as may be appropriate. The joint resolution shall
20 constitute the General Assembly's estimate, under paragraph
21 (b) of Section 2 of Article VIII of the Constitution, of the
22 funds estimated to be available during the next fiscal year.
23     (b) On the third Wednesday in March, the Commission shall
24 issue estimated:

 

 

SB2332 - 7 - LRB095 17991 JAM 44074 b

1         (1) pension funding requirements under P.A. 86-273;
2     and
3         (2) liabilities of the State employee group health
4     insurance program.
5     These estimated costs shall be for the fiscal year
6 beginning the following July 1.
7     (c) The requirement for reporting to the General Assembly
8 shall be satisfied by filing copies of the report with the
9 Speaker, the Minority Leader and the Clerk of the House of
10 Representatives and the President, the Minority Leader and the
11 Secretary of the Senate and the Legislative Research unit, as
12 required by Section 3.1 of the General Assembly Organization
13 Act, and filing such additional copies with the State
14 Government Report Distribution Center for the General Assembly
15 as is required under paragraph (t) of Section 7 of the State
16 Library Act.
17 (Source: P.A. 93-632, eff. 2-1-04.)
 
18     Section 99. Effective date. This Act takes effect upon
19 becoming law.