Illinois 2023-2024 Regular Session

Illinois House Bill HB5376 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5376 Introduced , by Rep. Fred Crespo SYNOPSIS AS INTRODUCED: 30 ILCS 105/6z-51 Amends the State Finance Act. Authorizes moneys to be appropriated from the Budget Stabilization Fund in the following specified circumstances. Provides that, if the Governor exercises powers under the Illinois Emergency Management Agency Act, the public health laws of the State, or the Illinois Constitution to declare a disaster or emergency resulting from a catastrophic event that necessitates government action to protect life or public safety, then, for that fiscal year, moneys may, by a favorable vote of a majority of the members elected to each house of the General Assembly, be appropriated from the Budget Stabilization Fund under separate legislation that describes the nature of the disaster or emergency and contains an appropriation limited to the purposes described in the Governor's disaster declaration or executive order. Provides that, if the employment growth forecast for any fiscal year is estimated to be less than 1%, then, for that fiscal year, moneys may be withdrawn and appropriated from the Budget Stabilization Fund by the favorable vote of a majority of the members elected to each house of the General Assembly. Provides that any amount may be withdrawn and appropriated from the Budget Stabilization Fund at any time by the favorable vote of at least three-fifths of the members of each house of the General Assembly. Effective immediately. LRB103 39492 JDS 69688 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5376 Introduced , by Rep. Fred Crespo SYNOPSIS AS INTRODUCED: 30 ILCS 105/6z-51 30 ILCS 105/6z-51 Amends the State Finance Act. Authorizes moneys to be appropriated from the Budget Stabilization Fund in the following specified circumstances. Provides that, if the Governor exercises powers under the Illinois Emergency Management Agency Act, the public health laws of the State, or the Illinois Constitution to declare a disaster or emergency resulting from a catastrophic event that necessitates government action to protect life or public safety, then, for that fiscal year, moneys may, by a favorable vote of a majority of the members elected to each house of the General Assembly, be appropriated from the Budget Stabilization Fund under separate legislation that describes the nature of the disaster or emergency and contains an appropriation limited to the purposes described in the Governor's disaster declaration or executive order. Provides that, if the employment growth forecast for any fiscal year is estimated to be less than 1%, then, for that fiscal year, moneys may be withdrawn and appropriated from the Budget Stabilization Fund by the favorable vote of a majority of the members elected to each house of the General Assembly. Provides that any amount may be withdrawn and appropriated from the Budget Stabilization Fund at any time by the favorable vote of at least three-fifths of the members of each house of the General Assembly. Effective immediately. LRB103 39492 JDS 69688 b LRB103 39492 JDS 69688 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5376 Introduced , by Rep. Fred Crespo SYNOPSIS AS INTRODUCED:
3	3	30 ILCS 105/6z-51 30 ILCS 105/6z-51
4	4	30 ILCS 105/6z-51
5	5	Amends the State Finance Act. Authorizes moneys to be appropriated from the Budget Stabilization Fund in the following specified circumstances. Provides that, if the Governor exercises powers under the Illinois Emergency Management Agency Act, the public health laws of the State, or the Illinois Constitution to declare a disaster or emergency resulting from a catastrophic event that necessitates government action to protect life or public safety, then, for that fiscal year, moneys may, by a favorable vote of a majority of the members elected to each house of the General Assembly, be appropriated from the Budget Stabilization Fund under separate legislation that describes the nature of the disaster or emergency and contains an appropriation limited to the purposes described in the Governor's disaster declaration or executive order. Provides that, if the employment growth forecast for any fiscal year is estimated to be less than 1%, then, for that fiscal year, moneys may be withdrawn and appropriated from the Budget Stabilization Fund by the favorable vote of a majority of the members elected to each house of the General Assembly. Provides that any amount may be withdrawn and appropriated from the Budget Stabilization Fund at any time by the favorable vote of at least three-fifths of the members of each house of the General Assembly. Effective immediately.
6	6	LRB103 39492 JDS 69688 b LRB103 39492 JDS 69688 b
7	7	LRB103 39492 JDS 69688 b
8	8	A BILL FOR
9	9	HB5376LRB103 39492 JDS 69688 b HB5376 LRB103 39492 JDS 69688 b
10	10	HB5376 LRB103 39492 JDS 69688 b
11	11	1 AN ACT concerning finance.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The State Finance Act is amended by changing
15	15	5 Section 6z-51 as follows:
16	16	6 (30 ILCS 105/6z-51)
17	17	7 Sec. 6z-51. Budget Stabilization Fund.
18	18	8 (a) The Budget Stabilization Fund, a special fund in the
19	19	9 State Treasury, shall consist of moneys appropriated or
20	20	10 transferred to that Fund, as provided in Section 6z-43 and as
21	21	11 otherwise provided by law. All earnings on Budget
22	22	12 Stabilization Fund investments shall be deposited into that
23	23	13 Fund.
24	24	14 (b) Following the affirmative vote of a simple majority of
25	25	15 the members of each house of the General Assembly, the The
26	26	16 State Comptroller may direct the State Treasurer to transfer
27	27	17 moneys from the Budget Stabilization Fund to the General
28	28	18 Revenue Fund in order to meet cash flow deficits resulting
29	29	19 from timing variations between disbursements and the receipt
30	30	20 of funds within a fiscal year. Any moneys so borrowed in any
31	31	21 fiscal year other than Fiscal Year 2011 shall be repaid by June
32	32	22 30 of the fiscal year in which they were borrowed. Any moneys
33	33	23 so borrowed in Fiscal Year 2011 shall be repaid no later than
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37	37	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5376 Introduced , by Rep. Fred Crespo SYNOPSIS AS INTRODUCED:
38	38	30 ILCS 105/6z-51 30 ILCS 105/6z-51
39	39	30 ILCS 105/6z-51
40	40	Amends the State Finance Act. Authorizes moneys to be appropriated from the Budget Stabilization Fund in the following specified circumstances. Provides that, if the Governor exercises powers under the Illinois Emergency Management Agency Act, the public health laws of the State, or the Illinois Constitution to declare a disaster or emergency resulting from a catastrophic event that necessitates government action to protect life or public safety, then, for that fiscal year, moneys may, by a favorable vote of a majority of the members elected to each house of the General Assembly, be appropriated from the Budget Stabilization Fund under separate legislation that describes the nature of the disaster or emergency and contains an appropriation limited to the purposes described in the Governor's disaster declaration or executive order. Provides that, if the employment growth forecast for any fiscal year is estimated to be less than 1%, then, for that fiscal year, moneys may be withdrawn and appropriated from the Budget Stabilization Fund by the favorable vote of a majority of the members elected to each house of the General Assembly. Provides that any amount may be withdrawn and appropriated from the Budget Stabilization Fund at any time by the favorable vote of at least three-fifths of the members of each house of the General Assembly. Effective immediately.
41	41	LRB103 39492 JDS 69688 b LRB103 39492 JDS 69688 b
42	42	LRB103 39492 JDS 69688 b
43	43	A BILL FOR
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49	49	30 ILCS 105/6z-51
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68	68	1 July 15, 2011.
69	69	2 (b-5) In addition to the transfer of moneys otherwise
70	70	3 authorized under this Section, moneys may also be appropriated
71	71	4 from the Budget Stabilization Fund as follows:
72	72	5 (1) If the Governor exercises powers under the
73	73	6 Illinois Emergency Management Agency Act, the public
74	74	7 health laws of the State, or the Illinois Constitution to
75	75	8 declare a disaster or emergency resulting from a
76	76	9 catastrophic event that necessitates government action to
77	77	10 protect life or public safety, then for that fiscal year
78	78	11 moneys may, by a favorable vote of a majority of the
79	79	12 members elected to each house of the General Assembly, be
80	80	13 appropriated from the Budget Stabilization Fund under
81	81	14 separate legislation that describes the nature of the
82	82	15 disaster or emergency and contains an appropriation
83	83	16 limited to the purposes described in the Governor's
84	84	17 disaster declaration or executive order.
85	85	18 (2) If the employment growth forecast for any fiscal
86	86	19 year is estimated to be less than 1%, then for that fiscal
87	87	20 year moneys may be appropriated from the Budget
88	88	21 Stabilization Fund by the favorable vote of a majority of
89	89	22 the members elected to each house of the General Assembly.
90	90	23 (3) Any amount may be appropriated from the Budget
91	91	24 Stabilization Fund at any time by the favorable vote of at
92	92	25 least three-fifths of the members of each house of the
93	93	26 General Assembly.
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104	104	1 (c) (Blank). During Fiscal Year 2017 only, amounts may be
105	105	2 expended from the Budget Stabilization Fund only pursuant to
106	106	3 specific authorization by appropriation. Any moneys expended
107	107	4 pursuant to appropriation shall not be subject to repayment.
108	108	5 (d) (Blank). For Fiscal Years 2020 through 2022, any
109	109	6 transfers into the Fund pursuant to the Cannabis Regulation
110	110	7 and Tax Act may be transferred to the General Revenue Fund in
111	111	8 order for the Comptroller to address outstanding vouchers and
112	112	9 shall not be subject to repayment back into the Budget
113	113	10 Stabilization Fund.
114	114	11 (e) Beginning July 1, 2023, on the first day of each month,
115	115	12 or as soon thereafter as practical, the State Comptroller
116	116	13 shall direct and the State Treasurer shall transfer $3,750,000
117	117	14 from the General Revenue Fund to the Budget Stabilization
118	118	15 Fund.
119	119	16 (Source: P.A. 101-10, eff. 6-5-19; 102-699, eff. 4-19-22.)
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