Synopsis As Introduced Creates the Emergency Budget Act of 2009. Authorizes the Governor to require contingency reserves of up to 8% concerning appropriations from the General Funds to executive State agencies directly responsible to the Governor, appropriations to the State Board of Education, appropriations for higher education, appropriations to State pension funds, and distributions and payments to units of local government. Provides that the Lieutenant Governor, the Attorney General, the Secretary of State, the Comptroller, and the Treasurer have the same rights and powers with respect to appropriations in their budgets. Effective immediately.