093_HB1483

 
                                     LRB093 08818 JAM 09050 b

 1        AN ACT concerning the State budget.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section   5.  The   State   Budget   Law   of  the  Civil
 5    Administrative Code of Illinois is amended by adding  Section
 6    50-25 as follows:

 7        (15 ILCS 20/50-25 new)
 8        Sec. 50-25.  Appropriation levels; revenue excesses.
 9        (a)  Any  law  to the contrary notwithstanding, the total
10    appropriations for a fiscal year submitted  by  the  Governor
11    and  adopted  by  the  General Assembly for each State agency
12    shall not exceed the amount of total appropriations for  that
13    agency  for  fiscal year 2004. This subsection does not apply
14    to elementary and secondary education appropriations  subject
15    to Section 50-20 (the Responsible Education Funding Law).
16        (b)  Any  law  to the contrary notwithstanding, any State
17    revenues received for a fiscal year in excess  of  an  amount
18    equal  to  the  total  fiscal year 2004 State budget shall be
19    transferred  to  the   Budget   Stabilization   Fund.    This
20    subsection  does  not  apply  to  revenues necessary for that
21    portion of elementary and secondary education  appropriations
22    in  excess  of  the fiscal year 2004 elementary and secondary
23    education appropriations.
24        (c)  This Section applies beginning with fiscal year 2005
25    appropriations and revenues.

26        Section 99.  Effective date.  This Act takes effect  upon
27    becoming law.