HB0308 Enrolled LRB096 04290 RCE 14336 b

1     AN ACT concerning State government.
 
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 Administrative
5 Code of Illinois is amended by changing Section 50-5 as
6 follows:
 
7     (15 ILCS 20/50-5)  (was 15 ILCS 20/38)
8     Sec. 50-5. Governor to submit State budget. The Governor
9 shall, as soon as possible and not later than the third first
10 Wednesday in March in 2009 2007 (March 18 7, 2009 2007) and the
11 third Wednesday in February of each year beginning in 2010
12 2008, except as otherwise provided in this Section, submit a
13 State budget, embracing therein the amounts recommended by the
14 Governor to be appropriated to the respective departments,
15 offices, and institutions, and for all other public purposes,
16 the estimated revenues from taxation, the estimated revenues
17 from sources other than taxation, and an estimate of the amount
18 required to be raised by taxation. In 2004 only, the Governor
19 shall submit the capital development section of the State
20 budget not later than the fourth Tuesday of March (March 23,
21 2004). The amounts recommended by the Governor for
22 appropriation to the respective departments, offices and
23 institutions shall be formulated according to the various

 

 

HB0308 Enrolled - 2 - LRB096 04290 RCE 14336 b

1 functions and activities for which the respective department,
2 office or institution of the State government (including the
3 elective officers in the executive department and including the
4 University of Illinois and the judicial department) is
5 responsible. The amounts relating to particular functions and
6 activities shall be further formulated in accordance with the
7 object classification specified in Section 13 of the State
8 Finance Act.
9     The Governor shall not propose expenditures and the General
10 Assembly shall not enact appropriations that exceed the
11 resources estimated to be available, as provided in this
12 Section.
13     For the purposes of Article VIII, Section 2 of the 1970
14 Illinois Constitution, the State budget for the following funds
15 shall be prepared on the basis of revenue and expenditure
16 measurement concepts that are in concert with generally
17 accepted accounting principles for governments:
18         (1) General Revenue Fund.
19         (2) Common School Fund.
20         (3) Educational Assistance Fund.
21         (4) Road Fund.
22         (5) Motor Fuel Tax Fund.
23         (6) Agricultural Premium Fund.
24     These funds shall be known as the "budgeted funds". The
25 revenue estimates used in the State budget for the budgeted
26 funds shall include the estimated beginning fund balance, plus

 

 

HB0308 Enrolled - 3 - LRB096 04290 RCE 14336 b

1 revenues estimated to be received during the budgeted year,
2 plus the estimated receipts due the State as of June 30 of the
3 budgeted year that are expected to be collected during the
4 lapse period following the budgeted year, minus the receipts
5 collected during the first 2 months of the budgeted year that
6 became due to the State in the year before the budgeted year.
7 Revenues shall also include estimated federal reimbursements
8 associated with the recognition of Section 25 of the State
9 Finance Act liabilities. For any budgeted fund for which
10 current year revenues are anticipated to exceed expenditures,
11 the surplus shall be considered to be a resource available for
12 expenditure in the budgeted fiscal year.
13     Expenditure estimates for the budgeted funds included in
14 the State budget shall include the costs to be incurred by the
15 State for the budgeted year, to be paid in the next fiscal
16 year, excluding costs paid in the budgeted year which were
17 carried over from the prior year, where the payment is
18 authorized by Section 25 of the State Finance Act. For any
19 budgeted fund for which expenditures are expected to exceed
20 revenues in the current fiscal year, the deficit shall be
21 considered as a use of funds in the budgeted fiscal year.
22     Revenues and expenditures shall also include transfers
23 between funds that are based on revenues received or costs
24 incurred during the budget year.
25     By March 15 of each year, the Commission on Government
26 Forecasting and Accountability shall prepare revenue and fund

 

 

HB0308 Enrolled - 4 - LRB096 04290 RCE 14336 b

1 transfer estimates in accordance with the requirements of this
2 Section and report those estimates to the General Assembly and
3 the Governor.
4     For all funds other than the budgeted funds, the proposed
5 expenditures shall not exceed funds estimated to be available
6 for the fiscal year as shown in the budget. Appropriation for a
7 fiscal year shall not exceed funds estimated by the General
8 Assembly to be available during that year.
9 (Source: P.A. 93-1, eff. 2-6-03; 93-662, eff. 2-11-04; 93-1067,
10 eff. 1-15-05; 94-1108, eff. 2-16-07.)
 
11     Section 99. Effective date. This Act takes effect upon
12 becoming law.