Illinois General Assembly - Full Text of SB2674
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Full Text of SB2674  94th General Assembly



SB2674 Enrolled LRB094 18995 JAM 54476 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. If and only if Senate Bill 1959 of the 94th
5 General Assembly becomes law, the State Budget Law of the Civil
6 Administrative Code of Illinois is amended by changing Section
7 50-5 as follows:
8     (15 ILCS 20/50-5)  (was 15 ILCS 20/38)
9     Sec. 50-5. Governor to submit State budget. The Governor
10 shall, as soon as possible and not later than the first second
11 Wednesday in March April in 2007 (March 7, 2007) 2003 and the
12 third Wednesday in February of each year beginning in 2008
13 2004, except as otherwise provided in this Section, submit a
14 State budget, embracing therein the amounts recommended by the
15 Governor to be appropriated to the respective departments,
16 offices, and institutions, and for all other public purposes,
17 the estimated revenues from taxation, the estimated revenues
18 from sources other than taxation, and an estimate of the amount
19 required to be raised by taxation. In 2004 only, the Governor
20 shall submit the capital development section of the State
21 budget not later than the fourth Tuesday of March (March 23,
22 2004). The amounts recommended by the Governor for
23 appropriation to the respective departments, offices and
24 institutions shall be formulated according to the various
25 functions and activities for which the respective department,
26 office or institution of the State government (including the
27 elective officers in the executive department and including the
28 University of Illinois and the judicial department) is
29 responsible. The amounts relating to particular functions and
30 activities shall be further formulated in accordance with the
31 object classification specified in Section 13 of the State
32 Finance Act.



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1     The Governor shall not propose expenditures and the General
2 Assembly shall not enact appropriations that exceed the
3 resources estimated to be available, as provided in this
4 Section.
5     For the purposes of Article VIII, Section 2 of the 1970
6 Illinois Constitution, the State budget for the following funds
7 shall be prepared on the basis of revenue and expenditure
8 measurement concepts that are in concert with generally
9 accepted accounting principles for governments:
10         (1) General Revenue Fund.
11         (2) Common School Fund.
12         (3) Educational Assistance Fund.
13         (4) Road Fund.
14         (5) Motor Fuel Tax Fund.
15         (6) Agricultural Premium Fund.
16     These funds shall be known as the "budgeted funds". The
17 revenue estimates used in the State budget for the budgeted
18 funds shall include the estimated beginning fund balance, plus
19 revenues estimated to be received during the budgeted year,
20 plus the estimated receipts due the State as of June 30 of the
21 budgeted year that are expected to be collected during the
22 lapse period following the budgeted year, minus the receipts
23 collected during the first 2 months of the budgeted year that
24 became due to the State in the year before the budgeted year.
25 Revenues shall also include estimated federal reimbursements
26 associated with the recognition of Section 25 of the State
27 Finance Act liabilities. For any budgeted fund for which
28 current year revenues are anticipated to exceed expenditures,
29 the surplus shall be considered to be a resource available for
30 expenditure in the budgeted fiscal year.
31     Expenditure estimates for the budgeted funds included in
32 the State budget shall include the costs to be incurred by the
33 State for the budgeted year, to be paid in the next fiscal
34 year, excluding costs paid in the budgeted year which were
35 carried over from the prior year, where the payment is
36 authorized by Section 25 of the State Finance Act. For any



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1 budgeted fund for which expenditures are expected to exceed
2 revenues in the current fiscal year, the deficit shall be
3 considered as a use of funds in the budgeted fiscal year.
4     Revenues and expenditures shall also include transfers
5 between funds that are based on revenues received or costs
6 incurred during the budget year.
7     By March 15 of each year, the Commission on Government
8 Forecasting and Accountability shall prepare revenue and fund
9 transfer estimates in accordance with the requirements of this
10 Section and report those estimates to the General Assembly and
11 the Governor.
12     For all funds other than the budgeted funds, the proposed
13 expenditures shall not exceed funds estimated to be available
14 for the fiscal year as shown in the budget. Appropriation for a
15 fiscal year shall not exceed funds estimated by the General
16 Assembly to be available during that year.
17 (Source: P.A. 93-1, eff. 2-6-03; 93-662, eff. 2-11-04; 93-1067,
18 eff. 1-15-05.)
19     Section 99. Effective date. This Act takes effect upon
20 becoming law.