Illinois General Assembly - Bill Status for HB3770

Creates the Government Accounting Oversight and Accountability Board Act. Creates the Government Accounting Oversight and Accountability Board (GAOAB). Provides that the GAOAB shall (1) review the accounting documents of the State of Illinois on a quarterly basis and report to the General Assembly on the transparency of the documents; (2) serve as a third party arbitrator between the Commission on Government Forecasting and Accountability and the Governor's Office of Management and Budget to facilitate the agreement of both parties on all budgetary numbers for agencies, revenue estimates, spending projections, and future liabilities; and (3) serve as an independent board to sign all documents affirming that all numbers transmitted by the State are the most accurate and transparent numbers available. Provides that the GAOAB is composed of 5 members, one appointed by each of the legislative leaders and one appointed by the Executive Ethics Commission. Effective immediately.

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