Illinois 2023-2024 Regular Session

Illinois House Bill HB5536 Compare Versions

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

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1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5536 Introduced , by Rep. Terra Costa Howard SYNOPSIS AS INTRODUCED: 30 ILCS 122/15 Amends the Budget Stabilization Act. Provides that moneys may be withdrawn and appropriated from the Budget Stabilization Fund as follows: (1) if the Governor declares a state of emergency resulting from a catastrophic event that necessitates government action to protect life or public safety, then, for that fiscal year, moneys may be withdrawn and appropriated from the Budget Stabilization Fund, by an appropriation setting forth the nature of the emergency and limited to the purposes contained in the declaration, passed by an affirmative vote of a majority of the members elected to each house of the General Assembly; (2) 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growth forecast for any fiscal year is estimated to be less than 1%, then, for that fiscal year, moneys may be withdrawn and appropriated from the Budget Stabilization Fund by the affirmative vote of a majority of the members elected to each house of the General Assembly; and (3) any amount may be withdrawn and appropriated from the Budget Stabilization Fund at any time by the affirmative vote of at least three-fifths of the members elected to each house of the General Assembly. LRB103 37379 MXP 67500 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5536 Introduced , by Rep. Terra Costa Howard SYNOPSIS AS INTRODUCED: 30 ILCS 122/15 30 ILCS 122/15 Amends the Budget Stabilization Act. Provides that moneys may be withdrawn and appropriated from the Budget Stabilization Fund as follows: (1) if the Governor declares a state of emergency resulting from a catastrophic event that necessitates government action to protect life or public safety, then, for that fiscal year, moneys may be withdrawn and appropriated from the Budget Stabilization Fund, by an appropriation setting forth the nature of the emergency and limited to the purposes contained in the declaration, passed by an affirmative vote of a majority of the members elected to each house of the General Assembly; (2) 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growth forecast for any fiscal year is estimated to be less than 1%, then, for that fiscal year, moneys may be withdrawn and appropriated from the Budget Stabilization Fund by the affirmative vote of a majority of the members elected to each house of the General Assembly; and (3) any amount may be withdrawn and appropriated from the Budget Stabilization Fund at any time by the affirmative vote of at least three-fifths of the members elected to each house of the General Assembly. LRB103 37379 MXP 67500 b LRB103 37379 MXP 67500 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5536 Introduced , by Rep. Terra Costa Howard SYNOPSIS AS INTRODUCED:
3	3	30 ILCS 122/15 30 ILCS 122/15
4	4	30 ILCS 122/15
5	5	Amends the Budget Stabilization Act. Provides that moneys may be withdrawn and appropriated from the Budget Stabilization Fund as follows: (1) if the Governor declares a state of emergency resulting from a catastrophic event that necessitates government action to protect life or public safety, then, for that fiscal year, moneys may be withdrawn and appropriated from the Budget Stabilization Fund, by an appropriation setting forth the nature of the emergency and limited to the purposes contained in the declaration, passed by an affirmative vote of a majority of the members elected to each house of the General Assembly; (2) 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 affirmative vote of a majority of the members elected to each house of the General Assembly; and (3) any amount may be withdrawn and appropriated from the Budget Stabilization Fund at any time by the affirmative vote of at least three-fifths of the members elected to each house of the General Assembly.
6	6	LRB103 37379 MXP 67500 b LRB103 37379 MXP 67500 b
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8	8	A BILL FOR
9	9	HB5536LRB103 37379 MXP 67500 b HB5536 LRB103 37379 MXP 67500 b
10	10	HB5536 LRB103 37379 MXP 67500 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 Budget Stabilization Act is amended by
15	15	5 changing Section 15 as follows:
16	16	6 (30 ILCS 122/15)
17	17	7 Sec. 15. Transfers to and withdrawals and appropriations
18	18	8 from the Budget Stabilization Fund. In furtherance of the
19	19	9 State's objective for the Budget Stabilization Fund to have
20	20	10 resources representing 7.5% of the State's annual general
21	21	11 funds revenues:
22	22	12 (a) For each fiscal year when the General Assembly's
23	23	13 appropriations and transfers or diversions as required by law
24	24	14 from general funds do not exceed 99% of the estimated general
25	25	15 funds revenues pursuant to subsection (a) of Section 10, the
26	26	16 Comptroller shall transfer from the General Revenue Fund as
27	27	17 provided by this Section a total amount equal to 0.5% of the
28	28	18 estimated general funds revenues to the Budget Stabilization
29	29	19 Fund.
30	30	20 (b) For each fiscal year when the General Assembly's
31	31	21 appropriations and transfers or diversions as required by law
32	32	22 from general funds do not exceed 98% of the estimated general
33	33	23 funds revenues pursuant to subsection (b) of Section 10, the
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37	37	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5536 Introduced , by Rep. Terra Costa Howard SYNOPSIS AS INTRODUCED:
38	38	30 ILCS 122/15 30 ILCS 122/15
39	39	30 ILCS 122/15
40	40	Amends the Budget Stabilization Act. Provides that moneys may be withdrawn and appropriated from the Budget Stabilization Fund as follows: (1) if the Governor declares a state of emergency resulting from a catastrophic event that necessitates government action to protect life or public safety, then, for that fiscal year, moneys may be withdrawn and appropriated from the Budget Stabilization Fund, by an appropriation setting forth the nature of the emergency and limited to the purposes contained in the declaration, passed by an affirmative vote of a majority of the members elected to each house of the General Assembly; (2) 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 affirmative vote of a majority of the members elected to each house of the General Assembly; and (3) any amount may be withdrawn and appropriated from the Budget Stabilization Fund at any time by the affirmative vote of at least three-fifths of the members elected to each house of the General Assembly.
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43	43	A BILL FOR
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49	49	30 ILCS 122/15
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68	68	1 Comptroller shall transfer from the General Revenue Fund as
69	69	2 provided by this Section a total amount equal to 1% of the
70	70	3 estimated general funds revenues to the Budget Stabilization
71	71	4 Fund.
72	72	5 (c) The Comptroller shall transfer 1/12 of the total
73	73	6 amount to be transferred each fiscal year under this Section
74	74	7 into the Budget Stabilization Fund on the first day of each
75	75	8 month of that fiscal year or as soon thereafter as possible.
76	76	9 The balance of the Budget Stabilization Fund shall not exceed
77	77	10 7.5% of the total of general funds revenues estimated for that
78	78	11 fiscal year except as provided by subsection (d) of this
79	79	12 Section.
80	80	13 (d) If the balance of the Budget Stabilization Fund
81	81	14 exceeds 7.5% of the total general funds revenues estimated for
82	82	15 that fiscal year, the additional transfers are not required
83	83	16 unless there are outstanding liabilities under Section 25 of
84	84	17 the State Finance Act from prior fiscal years. If there are
85	85	18 such outstanding Section 25 liabilities, then the Comptroller
86	86	19 shall continue to transfer 1/12 of the total amount identified
87	87	20 for transfer to the Budget Stabilization Fund on the first day
88	88	21 of each month of that fiscal year or as soon thereafter as
89	89	22 possible to be reserved for those Section 25 liabilities.
90	90	23 Nothing in this Act prohibits the General Assembly from
91	91	24 appropriating additional moneys into the Budget Stabilization
92	92	25 Fund.
93	93	26 (e) On or before August 31 of each fiscal year, the amount
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104	104	1 determined to be transferred to the Budget Stabilization Fund
105	105	2 shall be reconciled to actual general funds revenues for that
106	106	3 fiscal year. The final transfer for each fiscal year shall be
107	107	4 adjusted so that the total amount transferred under this
108	108	5 Section is equal to the percentage specified in subsection (a)
109	109	6 or (b) of this Section, as applicable, based on actual general
110	110	7 funds revenues calculated consistently with subsection (c) of
111	111	8 Section 10 of this Act for each fiscal year.
112	112	9 (f) For the fiscal year beginning July 1, 2006 and for each
113	113	10 fiscal year thereafter, the budget proposal to the General
114	114	11 Assembly shall identify liabilities incurred in a prior fiscal
115	115	12 year under Section 25 of the State Finance Act and the budget
116	116	13 proposal shall provide funding as allowable pursuant to
117	117	14 subsection (d) of this Section, if applicable.
118	118	15 (g) Moneys may be withdrawn and appropriated from the
119	119	16 Budget Stabilization Fund as follows:
120	120	17 (1) If the Governor declares a state of emergency
121	121	18 resulting from a catastrophic event that necessitates
122	122	19 government action to protect life or public safety, then,
123	123	20 for that fiscal year, moneys may be withdrawn and
124	124	21 appropriated from the Budget Stabilization Fund, by an
125	125	22 appropriation setting forth the nature of the emergency
126	126	23 and limited to the purposes contained in the declaration,
127	127	24 passed by an affirmative vote of a majority of the members
128	128	25 elected to each house of the General Assembly.
129	129	26 (2) If the employment growth forecast for any fiscal
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