Full Text of SB1424 96th General Assembly
SB1424 96TH GENERAL ASSEMBLY
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96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010 SB1424
Introduced 2/11/2009, by Sen. Michael W. Frerichs SYNOPSIS AS INTRODUCED: |
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15 ILCS 20/50-5 |
was 15 ILCS 20/38 |
15 ILCS 20/50-5.5 new |
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25 ILCS 155/4 |
from Ch. 63, par. 344 |
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Amends the State Budget Law of the Civil Administrative Code of Illinois and the Commission on Government Forecasting and Accountability Act. Creates a Revenue Estimating Council consisting of the Governor, the State Comptroller, and the co-chairs of the Commission on Government Forecasting and Accountability. Beginning in 2010, requires the Council to estimate the State's revenues and fund availability and to report and update the estimates to the Governor and General Assembly. Effective immediately.
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A BILL FOR
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SB1424 |
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LRB096 08494 JAM 18614 b |
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| AN ACT concerning State government.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The State Budget Law of the Civil Administrative | 5 |
| Code of Illinois is amended by changing Section 50-5 and by | 6 |
| adding Section 50-5.5 as follows:
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| (15 ILCS 20/50-5) (was 15 ILCS 20/38)
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| Sec. 50-5. Governor to submit State budget. The Governor | 9 |
| shall, as soon as
possible and not later than the first
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| Wednesday in March in 2007 (March 7, 2007) and the third
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| Wednesday in February of each year beginning in 2008, except as | 12 |
| otherwise provided in this Section, submit a
State budget, | 13 |
| embracing therein the amounts recommended by the Governor to be
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| appropriated to the respective departments, offices, and | 15 |
| institutions, and
for all other public purposes, the estimated | 16 |
| revenues from taxation, the
estimated revenues from sources | 17 |
| other than taxation, and an estimate of the
amount required to | 18 |
| be raised by taxation. In 2004 only, the Governor shall submit | 19 |
| the capital development section of the State budget not later | 20 |
| than the fourth Tuesday of March (March 23, 2004). The amounts | 21 |
| recommended by the
Governor for appropriation to the respective | 22 |
| departments, offices and
institutions shall be formulated | 23 |
| according to the various functions and
activities for which the |
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| respective department, office or institution of
the State | 2 |
| government (including the elective officers in the executive
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| department and including the University of Illinois and the | 4 |
| judicial
department) is responsible. The amounts relating to | 5 |
| particular functions
and activities shall be further | 6 |
| formulated in accordance with the object
classification | 7 |
| specified in Section 13 of the State Finance Act.
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| The Governor shall not propose expenditures and the General | 9 |
| Assembly shall
not enact appropriations that exceed the | 10 |
| resources estimated to be available,
as provided in this | 11 |
| Section.
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| For the purposes of Article VIII, Section 2 of the 1970
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| Illinois Constitution, the State budget for the following funds | 14 |
| shall be
prepared on the basis of revenue and expenditure | 15 |
| measurement concepts that are
in concert with generally | 16 |
| accepted accounting principles for governments:
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| (1) General Revenue Fund.
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| (2) Common School Fund.
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| (3) Educational Assistance Fund.
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| (4) Road Fund.
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| (5) Motor Fuel Tax Fund.
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| (6) Agricultural Premium Fund.
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| These funds shall be known as the "budgeted funds". The | 24 |
| revenue
estimates used in the State budget for the budgeted | 25 |
| funds shall include the
estimated beginning fund balance, plus
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| revenues estimated to be received during the budgeted year, |
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| plus the estimated
receipts due the State as of June 30 of the | 2 |
| budgeted year that are expected to
be collected during the | 3 |
| lapse period following the budgeted year, minus the
receipts | 4 |
| collected during the first 2 months of the budgeted year that | 5 |
| became
due to the State in the year before the budgeted year. | 6 |
| Revenues shall also
include estimated federal reimbursements | 7 |
| associated with the recognition of
Section 25 of the State | 8 |
| Finance Act liabilities. For any budgeted fund
for which | 9 |
| current year revenues are anticipated to exceed expenditures, | 10 |
| the
surplus shall be considered to be a resource available for | 11 |
| expenditure in the
budgeted fiscal year.
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| Expenditure estimates for the budgeted funds included in | 13 |
| the State budget
shall include the costs to be incurred by the | 14 |
| State for the budgeted year that are ,
to be paid in the next | 15 |
| fiscal year, excluding costs paid in the budgeted year
which | 16 |
| were carried over from the prior year, where the payment is | 17 |
| authorized by
Section
25 of the State Finance Act. For any | 18 |
| budgeted fund
for which expenditures are expected to exceed | 19 |
| revenues in the current fiscal
year, the deficit shall be | 20 |
| considered as a use of funds in the budgeted fiscal
year.
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| Revenues and expenditures shall also include transfers | 22 |
| between funds that are
based on revenues received or costs | 23 |
| incurred during the budget year.
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| By
March 15 of each year and until the Revenue Estimating | 25 |
| Council is
established , the
Commission on Government | 26 |
| Forecasting and Accountability shall prepare
revenue and fund |
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| transfer estimates in accordance with the requirements of this
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| Section and report those estimates to the General Assembly and | 3 |
| the Governor.
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| For all funds other than the budgeted funds, the proposed | 5 |
| expenditures shall
not exceed funds estimated to be available | 6 |
| for the fiscal year as shown in the
budget. Appropriation for a | 7 |
| fiscal year shall not exceed (i) funds estimated by
the General | 8 |
| Assembly to be available during that year as contained within | 9 |
| the joint resolution adopted by the General Assembly in
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| accordance with Section 50-5.5 of this Act or (ii) funds
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| estimated to be available in accordance with this Section prior | 12 |
| to the
effective date of this amendatory Act of the 96th | 13 |
| General Assembly .
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| (Source: P.A. 93-1, eff. 2-6-03; 93-662, eff. 2-11-04; 93-1067, | 15 |
| eff. 1-15-05; 94-1108, eff. 2-16-07.)
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| (15 ILCS 20/50-5.5 new)
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| Sec. 50-5.5. Revenue Estimating Council.
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| (a) There is created a Revenue Estimating Council, | 19 |
| consisting of the
Governor, the State Comptroller, and the | 20 |
| co-chairs of the Commission on Government Forecasting and | 21 |
| Accountability (who together shall have one vote on the | 22 |
| Council), or their designees.
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| (b) By February 1, 2010 and by February 1 of each year | 24 |
| thereafter, the
Revenue Estimating Council must prepare | 25 |
| revenue and fund transfer estimates in
accordance with the |
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| requirements of Section 50-5 and report those estimates to
the | 2 |
| General Assembly. In addition to the revenue and transfer | 3 |
| estimates, the
Revenue Estimating Council must certify an | 4 |
| estimate of all income of the State
from all applicable revenue
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| sources for the next ensuing fiscal year and of any other funds | 6 |
| estimated to be
available for that fiscal year.
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| Notwithstanding any other provision of this subsection, | 8 |
| for the purpose of
determining the estimates under this Section | 9 |
| for fiscal year 2011, the
Revenue Estimating Council must use | 10 |
| the prior year's estimated general funds
revenues as determined | 11 |
| by the Commission on Government Forecasting and | 12 |
| Accountability.
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| By May 1, 2010 and by May 1 of each year thereafter, the | 14 |
| Revenue
Estimating Council must issue a report
updating the | 15 |
| estimates required under this subsection as may be required | 16 |
| based
on more recent information. Upon its issuance, the | 17 |
| Revenue Estimating Council
must submit the revised report to | 18 |
| the Governor and the General Assembly. The
House of | 19 |
| Representatives and Senate must adopt the report by joint | 20 |
| resolution.
The joint resolution constitutes the General | 21 |
| Assembly's estimate, under
subsection (b) of Section 2 of | 22 |
| Article VIII of the Illinois Constitution, of
the funds
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| available during the next fiscal year.
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| (c) Prior to the beginning of the fiscal year, the Revenue | 25 |
| Estimating
Council must prepare a cash flow estimate of the | 26 |
| general funds, identifying
estimated revenues and cash |
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| expenditures for each quarter of the fiscal year.
Each quarter | 2 |
| of the fiscal year, the Revenue Estimating Council must review | 3 |
| the
revenue and cash expenditure estimates and issue a report | 4 |
| to the Governor and
the General Assembly containing updates of | 5 |
| the estimates required under this
subsection and notification | 6 |
| of potential budgetary shortfalls.
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| Section 10. The Commission on Government Forecasting and | 8 |
| Accountability Act is amended by changing Section 4 as follows: | 9 |
| (25 ILCS 155/4) (from Ch. 63, par. 344) | 10 |
| Sec. 4. (a) The Commission shall publish, at the convening | 11 |
| of each regular
session of the General Assembly, a report on | 12 |
| the estimated income of the
State from all applicable revenue | 13 |
| sources for the next ensuing fiscal
year and of any other funds | 14 |
| estimated to be available for such fiscal
year. On the third | 15 |
| Wednesday in March after the session convenes, the
Commission | 16 |
| shall issue a revised and updated set of revenue figures
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| reflecting the latest available information. In 2010, the The | 18 |
| House and Senate by
joint resolution shall adopt or modify such | 19 |
| estimates as may be
appropriate. The joint resolution shall | 20 |
| constitute the General
Assembly's estimate, under paragraph | 21 |
| (b) of Section 2 of Article VIII of
the Constitution, of the | 22 |
| funds estimated to be available during the next
fiscal year.
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| (b) On the third Wednesday in March, the Commission shall | 24 |
| issue estimated:
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| (1) pension funding requirements under P.A. 86-273; | 2 |
| and
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| (2) liabilities of the State employee group health | 4 |
| insurance program.
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| These estimated costs shall be for the fiscal year | 6 |
| beginning the following
July 1.
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| (c) The requirement for reporting to the General Assembly | 8 |
| shall be satisfied
by filing copies of the report with the | 9 |
| Speaker, the Minority Leader and
the Clerk of the House of | 10 |
| Representatives and the President, the Minority
Leader and the | 11 |
| Secretary of the Senate and the Legislative
Research
unit, as | 12 |
| required by Section 3.1 of the General Assembly
Organization | 13 |
| Act, and filing
such
additional copies with the State | 14 |
| Government Report Distribution Center for the
General Assembly | 15 |
| as is required under paragraph (t) of Section 7 of the State
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| Library Act.
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| (Source: P.A. 93-632, eff. 2-1-04.)
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| Section 99. Effective date. This Act takes effect upon | 19 |
| becoming law.
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