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(25 ILCS 65/3) (from Ch. 63, par. 42.73)
Sec. 3. The Commission on Government Forecasting and Accountability shall prepare a
written State Debt Impact Note in relation to any bill introduced in either
house of the General Assembly which proposes to increase or add new long
term debt authorization or would require, through appropriation, the use
of bond financed funds. Upon the assignment of any such bill to Committee,
the chairperson of the Committee on Assignments in the House of Representatives
or the chairperson of the Committee on Assignment of Bills in the Senate
shall forward the bill to the Commission on Government Forecasting and Accountability which
shall prepare such a note within 7 calendar days after receiving the request
and the bill shall be held on second reading until the note has been received,
except that whenever, because of the complexity of the measure, additional
time is required for preparation of the note, the Commission may so inform
the sponsor of the bill, who may approve an extension of the time within
which the note is to be furnished for an additional 7 calendar days. Copies of each
State Debt Impact Note shall be furnished by the Commission to the presiding
officer of each house, the minority leader of each house, the Clerk of the
House of Representatives, the Secretary of the Senate, the sponsor of the
bill which is the subject of the note, the member, if any, who initiated
the request for the note, the Chairperson and Minority Spokespersons of
the House and Senate Appropriations and Revenue Committees.
(Source: P.A. 93-1067, eff. 1-15-05.)
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