Illinois General Assembly - Bill Status for HB4118
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 Bill Status of HB4118  102nd General Assembly


Short Description:  FINANCE-BUDGET STABILIZATION

House Sponsors
Rep. Michael Halpin

Last Action
DateChamber Action
  9/3/2021HouseReferred to Rules Committee

Statutes Amended In Order of Appearance
15 ILCS 20/50-40
30 ILCS 105/6z-51
30 ILCS 122/15
30 ILCS 122/20


Synopsis As Introduced
Amends the State Budget Law of the Civil Administrative Code of Illinois. Provides that "general funds" or "State general funds" as used under the Act includes the Pension Stabilization Fund. Amends the State Finance Act. Provides that for fiscal year 2024 and subsequent fiscal years, any transfers into the Budget Stabilization Fund may be transferred to the General Revenue Fund in order for the Comptroller to address outstanding vouchers, and shall not be subject to repayment into the Budget Stabilization Fund if the bill backlog as determined by the Comptroller on June 30 of that fiscal year exceeds $4,000,000,000. Amends the Budget Stabilization Act. Modifies provisions concerning requirements for and transfers into the Budget Stabilization Fund and the Pension Stabilization Fund regarding the State's backlog of bills. Effective immediately.

Actions 
DateChamber Action
  8/5/2021HouseFiled with the Clerk by Rep. Michael Halpin
  9/3/2021HouseFirst Reading
  9/3/2021HouseReferred to Rules Committee

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