Full Text of SB0274 98th General Assembly
SB0274enr 98TH GENERAL ASSEMBLY |
| | SB0274 Enrolled | | LRB098 04500 JWD 34528 b |
|
| 1 | | AN ACT concerning finance.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 1. Short title. This Act may be cited as the | 5 | | Illinois Revenue Volatility Study Act. | 6 | | Section 5. Illinois Revenue Volatility Study. | 7 | | (a) The Commission on Government Forecasting and | 8 | | Accountability shall conduct a study of the volatility of the | 9 | | sources of general revenue funds collected by the State of | 10 | | Illinois. | 11 | | (b) The study shall include, but is not limited to: | 12 | | (1) an examination of Illinois' tax base and tax | 13 | | revenue volatility; | 14 | | (2) the identification of economic variables that may | 15 | | influence the volatility of tax revenue;
| 16 | | (3) an analysis of the adequacy of the balances in the | 17 | | Budget Stabilization Fund in relation to the volatility of | 18 | | tax revenues; and
| 19 | | (4) an examination of options for a deposit mechanism | 20 | | linked to one or more tax sources on the basis of each tax | 21 | | source's observed volatility, including:
| 22 | | (A) an analysis of how the options would have | 23 | | performed historically within Illinois; and
|
| | | SB0274 Enrolled | - 2 - | LRB098 04500 JWD 34528 b |
|
| 1 | | (B) an analysis of how the options would likely | 2 | | perform based on the most recent revenue forecast.
| 3 | | (c) On or before December 31, 2014, the Commission shall | 4 | | report its findings to the General Assembly and the Governor. | 5 | | Section 10. Repealer. This Act is repealed on December 1, | 6 | | 2015. | 7 | | Section 50. The State Budget Law of the Civil | 8 | | Administrative Code of Illinois is amended by adding Section | 9 | | 50-22 as follows: | 10 | | (15 ILCS 20/50-22 new) | 11 | | Sec. 50-22. Funding for salaries of General Assembly | 12 | | members and judges; legislative operations. | 13 | | (a) Beginning July 1, 2014, the aggregate appropriations | 14 | | available for salaries for members of the General Assembly and | 15 | | judges from all State funds for each State fiscal year shall be | 16 | | no less than the total aggregate appropriations made available | 17 | | for salaries for members of the General Assembly and judges for | 18 | | the immediately preceding fiscal year. | 19 | | (b) Beginning July 1, 2014, the aggregate appropriations | 20 | | available for legislative operations from all State funds for | 21 | | each State fiscal year shall be no less than the total | 22 | | aggregate appropriations made available for legislative | 23 | | operations for the immediately preceding fiscal year. For |
| | | SB0274 Enrolled | - 3 - | LRB098 04500 JWD 34528 b |
|
| 1 | | purposes of this subsection (b), "legislative operations" | 2 | | means any expenditure for the operation of the Office of the | 3 | | Auditor General, the House of Representatives, the Senate, the | 4 | | Legislative Ethics Commission, the Office of the Legislative | 5 | | Inspector General, the Joint Committee on Legislative Support | 6 | | Services, and the legislative support services agencies. | 7 | | (c) If for any reason the aggregate appropriations made | 8 | | available are insufficient to meet the levels required by | 9 | | subsections (a) and (b) of this Section, this Section shall | 10 | | constitute a continuing appropriation of all amounts necessary | 11 | | for these purposes. The General Assembly may appropriate lesser | 12 | | amounts by law. | 13 | | Section 55. The General Assembly Compensation Act is | 14 | | amended by changing Section 1 as follows: | 15 | | (25 ILCS 115/1) (from Ch. 63, par. 14) | 16 | | Sec. 1. Each member of the General Assembly shall receive | 17 | | an annual salary
of $28,000 or as set by the Compensation | 18 | | Review Board, whichever is
greater. The
following named | 19 | | officers, committee chairmen and committee minority spokesmen
| 20 | | shall receive additional amounts per year for
their services as | 21 | | such officers, committee chairmen and committee
minority | 22 | | spokesmen respectively, as set by the Compensation
Review Board | 23 | | or, as follows, whichever is greater: Beginning the second
| 24 | | Wednesday in January 1989, the Speaker and the minority leader |
| | | SB0274 Enrolled | - 4 - | LRB098 04500 JWD 34528 b |
|
| 1 | | of the
House of Representatives and the
President and the | 2 | | minority leader of the Senate, $16,000 each; the
majority | 3 | | leader in the House of Representatives $13,500;
6 assistant
| 4 | | majority leaders and 5 assistant minority leaders in the | 5 | | Senate,
$12,000
each; 6 assistant majority leaders and 6 | 6 | | assistant minority leaders in
the House of Representatives, | 7 | | $10,500 each; 2 Deputy
Majority leaders in the House of | 8 | | Representatives $11,500 each; and 2 Deputy
Minority leaders in | 9 | | the House of Representatives, $11,500 each; the majority
caucus | 10 | | chairman and minority caucus chairman in the Senate, $12,000 | 11 | | each;
and beginning the second Wednesday in January, 1989, the | 12 | | majority
conference chairman and the minority conference | 13 | | chairman
in the House of Representatives, $10,500 each; | 14 | | beginning
the second Wednesday in January, 1989, the chairman | 15 | | and minority spokesman
of each standing committee of the | 16 | | Senate, except the Rules Committee, the
Committee on | 17 | | Committees, and the Committee on Assignment of Bills, $6,000
| 18 | | each; and beginning the second Wednesday in January, 1989, the | 19 | | chairman and
minority spokesman of each standing and select | 20 | | committee of the House of
Representatives, $6,000 each. A | 21 | | member who serves in more than one
position as an officer, | 22 | | committee chairman, or committee minority spokesman
shall | 23 | | receive only one additional amount based on the position paying | 24 | | the
highest additional amount. The
compensation provided for in | 25 | | this Section to be paid per year to members
of the General | 26 | | Assembly, including the additional sums payable per year
to |
| | | SB0274 Enrolled | - 5 - | LRB098 04500 JWD 34528 b |
|
| 1 | | officers of the General Assembly shall be paid in 12 equal | 2 | | monthly
installments. The first such installment is payable on | 3 | | January 31,
1977. All subsequent equal monthly installments are | 4 | | payable on the last
working day of the month. A member who has | 5 | | held office any part of a
month is entitled to compensation for | 6 | | an entire month. | 7 | | Mileage shall be paid at the rate of 20 cents per mile | 8 | | before January
9, 1985, and at the mileage allowance rate in | 9 | | effect under regulations
promulgated pursuant to 5 U.S.C. | 10 | | 5707(b)(2) beginning January 9, 1985, for the number
of actual | 11 | | highway miles necessarily and conveniently traveled by the
most | 12 | | feasible route to be present upon convening of the sessions of | 13 | | the
General Assembly by such member in each and every trip | 14 | | during each
session in going to and returning from the seat of | 15 | | government, to be
computed by the Comptroller. A member | 16 | | traveling by public
transportation for such purposes, however, | 17 | | shall be paid his actual cost
of that transportation instead of | 18 | | on the mileage rate if his cost of
public transportation | 19 | | exceeds the amount to which he would be entitled
on a mileage | 20 | | basis. No member may be paid, whether on a mileage basis
or for | 21 | | actual costs of public transportation, for more than one such
| 22 | | trip for each week the General Assembly is actually in session. | 23 | | Each
member shall also receive an allowance of $36 per day for | 24 | | lodging and
meals while in attendance at sessions
of the | 25 | | General Assembly before January 9, 1985; beginning January 9,
| 26 | | 1985, such food and lodging allowance shall be equal to the |
| | | SB0274 Enrolled | - 6 - | LRB098 04500 JWD 34528 b |
|
| 1 | | amount per day
permitted to be deducted for such expenses under | 2 | | the Internal Revenue Code;
however, beginning May 31, 1995, no | 3 | | allowance for food and lodging while in
attendance at sessions | 4 | | is authorized for periods of time after the last day in
May of | 5 | | each calendar year, except (i) if the General Assembly is | 6 | | convened in
special session by either the Governor or the | 7 | | presiding officers of both
houses, as provided by subsection | 8 | | (b) of Section 5 of Article IV of the
Illinois Constitution or | 9 | | (ii) if the
General Assembly is convened to consider bills | 10 | | vetoed, item vetoed, reduced, or
returned with specific | 11 | | recommendations for change by the Governor as provided
in | 12 | | Section 9 of Article IV of the Illinois Constitution. For | 13 | | fiscal year 2011 and for session days in fiscal years 2012, | 14 | | 2013, and 2014 , and 2015 only (i) the allowance for lodging and | 15 | | meals is $111 per day and (ii) mileage for automobile travel | 16 | | shall be reimbursed at a rate of $0.39 per mile. | 17 | | Notwithstanding any other provision of law to the contrary, | 18 | | beginning in fiscal year 2012, travel reimbursement for
General | 19 | | Assembly members on non-session days shall be
calculated using | 20 | | the guidelines set forth by the Legislative
Travel Control | 21 | | Board, except that fiscal year 2012, 2013, and 2014 , and 2015 | 22 | | mileage reimbursement is set at a rate of $0.39 per mile. | 23 | | If a member dies having received only a portion of the | 24 | | amount payable
as compensation, the unpaid balance shall be | 25 | | paid to the surviving
spouse of such member, or, if there be | 26 | | none, to the estate of such member. |
| | | SB0274 Enrolled | - 7 - | LRB098 04500 JWD 34528 b |
|
| 1 | | (Source: P.A. 97-71, eff. 6-30-11; 97-718, eff. 6-29-12; 98-30, | 2 | | eff. 6-24-13.) | 3 | | Section 60. The Compensation Review Act is amended by | 4 | | adding Section 6.2 as follows: | 5 | | (25 ILCS 120/6.2 new) | 6 | | Sec. 6.2. FY15 COLAs prohibited. Notwithstanding any | 7 | | former or current provision of this Act, any other law, any | 8 | | report of the Compensation Review Board, or any resolution of | 9 | | the General Assembly to the contrary, members of the General | 10 | | Assembly, State's attorneys, other than the county supplement, | 11 | | elected executive branch constitutional officers of State | 12 | | government, and persons in certain appointed offices of State | 13 | | government, including the membership of State departments, | 14 | | agencies, boards, and commissions, whose annual compensation | 15 | | previously was recommended or determined by the Compensation | 16 | | Review Board, are prohibited from receiving and shall not | 17 | | receive any increase in compensation that would otherwise apply | 18 | | based on a cost of living adjustment, as authorized by Senate | 19 | | Joint Resolution 192 of the 86th General Assembly, for or | 20 | | during the fiscal year beginning July 1, 2014. | 21 | | Section 65. The State Finance Act is amended by adding | 22 | | Section 5k as follows: |
| | | SB0274 Enrolled | - 8 - | LRB098 04500 JWD 34528 b |
|
| 1 | | (30 ILCS 105/5k new) | 2 | | Sec. 5k. Cash flow borrowing and general funds liquidity; | 3 | | FY15. | 4 | | (a) In order to meet cash flow deficits and to maintain | 5 | | liquidity in the General Revenue Fund and the Health Insurance | 6 | | Reserve Fund, on and after July 1, 2014 and through June 30, | 7 | | 2015, the State Treasurer and the State Comptroller shall make | 8 | | transfers to the General Revenue Fund and the Health Insurance | 9 | | Reserve Fund, as directed by the Governor, out of special funds | 10 | | of the State, to the extent allowed by federal law. No such | 11 | | transfer may reduce the cumulative balance of all of the | 12 | | special funds of the State to an amount less than the total | 13 | | debt service payable during the 12 months immediately following | 14 | | the date of the transfer on any bonded indebtedness of the | 15 | | State and any certificates issued under the Short Term | 16 | | Borrowing Act. At no time shall the outstanding total transfers | 17 | | made from the special funds of the State to the General Revenue | 18 | | Fund and the Health Insurance Reserve Fund under this Section | 19 | | exceed $650,000,000; once the amount of $650,000,000 has been | 20 | | transferred from the special funds of the State to the General | 21 | | Revenue Fund and the Health Insurance Reserve Fund, additional | 22 | | transfers may be made from the special funds of the State to | 23 | | the General Revenue Fund and the Health Insurance Reserve Fund | 24 | | under this Section only to the extent that moneys have first | 25 | | been re-transferred from the General Revenue Fund and the | 26 | | Health Insurance Reserve Fund to those special funds of the |
| | | SB0274 Enrolled | - 9 - | LRB098 04500 JWD 34528 b |
|
| 1 | | State. Notwithstanding any other provision of this Section, no | 2 | | such transfer may be made from any special fund that is | 3 | | exclusively collected by or appropriated to any other | 4 | | constitutional officer without the written approval of that | 5 | | constitutional officer. | 6 | | (b) If moneys have been transferred to the General Revenue | 7 | | Fund and the Health Insurance Reserve Fund pursuant to | 8 | | subsection (a) of this Section, this amendatory Act of the 98th | 9 | | General Assembly shall constitute the continuing authority for | 10 | | and direction to the State Treasurer and State Comptroller to | 11 | | reimburse the funds of origin from the General Revenue Fund by | 12 | | transferring to the funds of origin, at such times and in such | 13 | | amounts as directed by the Governor when necessary to support | 14 | | appropriated expenditures from the funds, an amount equal to | 15 | | that transferred from them plus any interest that would have | 16 | | accrued thereon had the transfer not occurred, except that any | 17 | | moneys transferred pursuant to subsection (a) of this Section | 18 | | shall be repaid to the fund of origin within 18 months after | 19 | | the date on which they were borrowed. When any of the funds | 20 | | from which moneys have been transferred pursuant to subsection | 21 | | (a) have insufficient cash from which the State Comptroller may | 22 | | make expenditures properly supported by appropriations from | 23 | | the fund, then the State Treasurer and State Comptroller shall | 24 | | transfer from the General Revenue Fund to the fund only such | 25 | | amount as is immediately necessary to satisfy outstanding | 26 | | expenditure obligations on a timely basis. |
| | | SB0274 Enrolled | - 10 - | LRB098 04500 JWD 34528 b |
|
| 1 | | (c) On the first day of each quarterly period in each | 2 | | fiscal year, until such time as a report indicates that all | 3 | | moneys borrowed and interest pursuant to this Section have been | 4 | | repaid, the Governor's Office of Management and Budget shall | 5 | | provide to the President and the Minority Leader of the Senate, | 6 | | the Speaker and the Minority Leader of the House of | 7 | | Representatives, and the Commission on Government Forecasting | 8 | | and Accountability a report on all transfers made pursuant to | 9 | | this Section in the prior quarterly period. The report must be | 10 | | provided in electronic format. The report must include all of | 11 | | the following: | 12 | | (1) The date each transfer was made. | 13 | | (2) The amount of each transfer. | 14 | | (3) In the case of a transfer from the General Revenue | 15 | | Fund to a fund of origin pursuant to subsection (b) of this | 16 | | Section, the amount of interest being paid to the fund of | 17 | | origin. | 18 | | (4) The end of day balance of the fund of
origin, the | 19 | | General Revenue Fund and the Health Insurance Reserve Fund | 20 | | on the date the transfer was made.
| 21 | | Section 99. Effective date. This Act takes effect upon | 22 | | becoming law.
|
|