Full Text of HJR0050 100th General Assembly
HJ0050 100TH GENERAL ASSEMBLY
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| | 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 Governor's Office of | | 20 | | Management and Budget, we estimate the general funds to be | | 21 | | available during
State fiscal year 2018, as expressed in | | 22 | | millions of dollars, as follows:
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| | 1 | | Revenue Sources House Estimate | | 2 | | State Taxes | | 3 | | Personal Income Tax $16,093 | | 4 | | Corporate Income Tax (regular) $1,989 | | 5 | | Sales Taxes $8,305 | | 6 | | Public Utility (regular) $917 | | 7 | | Cigarette Tax $353 | | 8 | | Liquor Gallonage Taxes $172 | | 9 | | Vehicle Use Tax $29 | | 10 | | Inheritance Tax $275 | | 11 | | Insurance Taxes & Fees $395 | | 12 | | Corporate Franchise Tax & Fees $203 | | 13 | | Interest on State Funds & Investments $24 | | 14 | | Cook County Intergovernmental Transfer $244 | | 15 | | Other Sources $568 | | 16 | | Subtotal $29,567
| | 17 | | Transfers | | 18 | | Lottery $719 | | 19 | | Riverboat transfers and receipts $274 | | 20 | | Proceeds from sale of 10th license $10 | | 21 | | Refund Fund transfer $0 | | 22 | | Interfund Borrowing $0 | | 23 | | Other $720 | | 24 | | Total State Sources $31,290
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| | 1 | | Federal Sources $3,111
| | 2 | | Total Federal & State Sources $34,401
| | 3 | | Nongeneral Funds Distribution: | | 4 | | Refund Fund | | 5 | | Personal Income Tax ($1,609) | | 6 | | Corporate Income Tax ($348) | | 7 | | Fund for Advancement of Education ($484) | | 8 | | Commitment to Human Services Fund ($484) | | 9 | | Subtotal General Funds $31,476
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