HB2379 EngrossedLRB100 10145 SGJ 20323 b

1    AN ACT concerning State government
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 1. Short title. This Act may be cited as the Fiscal
5Impact Statement Act.
 
6    Section 5. Fiscal Impact Statement. Every executive order
7of the Governor, the purpose or effect of which is to expend
8any State funds or to increase or decrease the revenues of the
9State, either directly or indirectly, shall include a fiscal
10impact statement. A fiscal impact statement shall contain a
11reliable estimate of the anticipated change in State
12expenditures or revenues under its provisions together with a
13reliable estimate of the fiscal impact of its provisions,
14including but not limited to:
15        (1) The designation of the fund or funds out of which
16    any expenditures under the order shall be made.
17        (2) The probable cost for the fiscal year the order is
18    implemented.
19        (3) A projected cost estimate of the order for each of
20    the 5 succeeding fiscal years.
21        (4) The probable loss of revenue for the fiscal year of
22    its implementation.
23        (5) A projected loss of revenue from the order for each

 

 

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1    of the 5 succeeding fiscal years.
2    The fiscal impact statement shall also include an
3explanation of the methodology used to determine the estimated
4direct and indirect costs or estimated impact.
 
5    Section 10. Bond authority; bond rates. If an executive
6order affects bond authority or bond rates, the fiscal impact
7statement shall be prepared by the Governor's Office of
8Management and Budget specifying the estimated total effect on
9principal and interest. The fiscal impact statement shall
10include the total principal on all other then-outstanding Bonds
11of the State.
 
12    Section 15. Filing. The fiscal impact statement shall be
13filed with the Office of the Secretary of State. The fiscal
14impact statement shall be published on the Office of the
15Governor's website together with the executive order.
 
16    Section 20. Preparation.
17    (a) Prior to filing the executive order with the Secretary
18of State, the Governor shall provide a copy of the executive
19order to the board, commission, department, agency, or other
20entity of the State which is responsible for implementation of
21the order. The fiscal impact statement shall be prepared by the
22board, commission, department, agency, or other entity and
23furnished to the Governor. Whenever any executive order for

 

 

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1which a fiscal impact statement is required affects more than
2one State board, commission, department, agency, or other
3entity, the board, commission, department, agency, or other
4entity most affected by its provisions according to the
5Governor shall be responsible for preparation of the statement.
6Whenever any executive order for which a fiscal impact
7statement is required does not affect a specific board,
8commission, department, agency or other such entity, the
9Governor's Office of Management and Budget shall be responsible
10for preparation of the statement.
11    (b) In the case of the executive order having a potential
12fiscal impact on school districts, the fiscal impact statement
13shall be prepared by the State Superintendent of Education. In
14the case of the executive order having a potential fiscal
15impact on community college districts, the fiscal impact
16statement shall be prepared by the Illinois Community College
17Board. In the case of the executive order having a potential
18fiscal impact on state universities, the fiscal impact
19statement shall be prepared by the Illinois Board of Higher
20Education.
21    (c) In the case of the executive order having a potential
22fiscal impact on units of local government, the fiscal impact
23statement shall be prepared by the Department of Commerce and
24Economic opportunity.
 
25    Section 99. Effective date. This Act takes effect upon
26becoming law.