Illinois Senate Bill SB3828

Illinois 2023-2024 Regular Session

• Introduced: 2/28/24
• Refer: 2/28/24

Caption

$TREASURER FY25

Impact

The bill illustrates the state's financial priorities and legislative focus on ensuring that essential offices such as the Office of the State Treasurer are appropriately funded to maintain operations. The funding allocations included in SB3828 are likely to impact the administration of tax refunds, operational costs, and management of state bonds, which can have subsequent effects on state financial management and long-term fiscal stability.

Summary

SB3828 is an appropriations bill introduced in the 103rd General Assembly of Illinois, which requests specific funding from various state funds for different operational expenses and programs. The bill details the allocation of funds from the State Treasurer’s Administrative Fund, the General Revenue Fund, and other designated funds, emphasizing the distribution of over $16 million towards operational expenses and $24 million towards the payment of principal and interest on state bonded indebtedness. This funding is aimed at meeting the fiscal requirements for the financial year ending June 30, 2025.

Contention

While the bill presents a structured approach to appropriating necessary funds, potential points of contention may arise surrounding the accuracy of the proposed expenditures and their alignment with current economic realities. Stakeholders may voice concerns about the potential impacts of these appropriations on other state-funded programs, especially in the context of competing financial needs across different sectors such as education, infrastructure, and social services.