Illinois General Assembly - Full Text of HJR0049

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Full Text of HJR0049 100th General Assembly

Introduced
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HJ0049 100TH GENERAL ASSEMBLY

HJ0049 LRB100 12519 MST 25519 r

1 HOUSE JOINT RESOLUTION

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

6     WHEREAS, Pursuant to this constitutional mandate,
7 subsection (a) of Section 4 of the Commission on Government
8 Forecasting and Accountability Act directs the Commission to
9 publish, on the third Wednesday in March of each year, revised
10 revenue estimates for the approaching fiscal year; and

11     WHEREAS, Pursuant to subsection (a) of Section 4 of the
12 Commission on Government Forecasting and Accountability Act,
13 the Commission, in its discretion, may also consult with the
14 Governor's Office of Management and Budget in preparing the
15 report; therefore, be it

16     RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE
17 HUNDREDTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE SENATE
18 CONCURRING HEREIN, that based on the estimate prepared and
19 submitted to the General Assembly by the Commission on
20 Government Forecasting and Accountability, we estimate the
21 general funds to be available during State fiscal year 2018, as
22 expressed in millions of dollars, as follows:

HJ0049 - 2 - LRB100 12519 MST 25519 r

1 Revenue Sources               House Estimate
2 State Taxes
3 Personal Income Tax                                   $15,688
4 Corporate Income Tax (regular)                         $1,900
5 Sales Taxes                                            $8,380
6 Public Utility (regular)                                 $898
7 Cigarette Tax                                            $353
8 Liquor Gallonage Taxes                                   $173
9 Vehicle Use Tax                                           $30
10 Inheritance Tax                                          $280
11 Insurance Taxes & Fees                                   $410
12 Corporate Franchise Tax & Fees                           $203
13 Interest on State Funds & Investments                     $32
14 Cook County Intergovernmental Transfer                   $244
15 Other Sources                                           $599
16 Subtotal                                              $29,190
17 Transfers
18 Lottery                                                  $719
19 Riverboat transfers and receipts                         $262
20 Proceeds from sale of 10th license                        $10
21 Refund Fund transfer                                       $0
22 Interfund Borrowing                                        $0
23 Other                                                   $699
24 Total State Sources                                   $30,880

25 Federal Sources                                       $3,111

HJ0049 - 3 - LRB100 12519 MST 25519 r

1 Total Federal & State Sources                        $33,991

2 Nongeneral Funds Distribution:
3 Refund Fund
4 Personal Income Tax                                  ($1,569)
5 Corporate Income Tax                                   ($333)
6 Fund for Advancement of Education                      ($471)
7 Commitment to Human Services Fund                     ($471)
8 Subtotal General Funds $31,147

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