90th General Assembly
Summary of HB0086
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House Sponsors:
DART.

Short description: 
ILLINOIS BALANCED BUDGET ACT                                               

Synopsis of Bill as introduced:
        Creates the Illinois Balanced Budget  Act.   Creates  a  Balanced      
   Budget  Commission  to  provide a Balanced Budget Revenue Estimate for      
   each  fiscal  year.    The  Estimate  shall  serve  as  a   limit   on      
   appropriations  from State general funds. If appropriations exceed the      
   limit, the  Comptroller  shall  prepare  a  proposed  Balanced  Budget      
   Reserve  Act  for  that  fiscal  year.  Sets forth the contents of the      
   proposed Act,  including  certain  measures  to  reduce  State  agency      
   expenditures.  Amends the State Finance Act.  Reduces the lapse period      
   from 2 months to one month starting in FY2003. Effective immediately.       
          FISCAL NOTE (Comptroller)                                            
          Estimated fiscal impact staffing costs:                              
           annual                                                 $45,000      
           periodic (years when reserves required)                $35,000      
           one-time                                               $ 2,500      
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



 Full Text  Bill Status