GASH-GRANBERG. New Act 30 ILCS 105/5.490 new Creates the Rainy Day Fund Act and amends the State Finance Act. Creates the Revenue Stabilization Fund as a special fund within the State treasury for use in meeting the State's obligations and casual deficits. Provides that for any year when the State's estimated general funds revenues exceed the prior year's general funds revenues by more than 4% the Governor shall submit a proposed budget to the General Assembly that includes transfers into the Revenue Stabilization Fund of an amount not less than 0.25% of the anticipated general funds revenues. Provides that the General Assembly shall appropriate no less than 0.25% of estimated revenues to the Revenue Stabilization Fund. Provides for the transfer of funds into the Revenue Stabilization Fund. Provides for transfers into the General Revenue Fund when that fund's resources are insufficient to meet the State's obligations. Effective immediately. FISCAL NOTE (State Treasurer) HB857 will not increase nor decrease revenues or expenditures of the State. FISCAL NOTE (Bureau of the Budget) Setting aside funds does not require expenditure of funds or change State revenues. 99-02-10 H FIRST READING 99-02-10 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-02-17 H ASSIGNED TO COMMITTEE APP-GEN SERVS 99-02-22 H ADDED AS A JOINT SPONSOR GRANBERG 99-02-26 H FISCAL NOTE FILED 99-02-26 H COMMITTEE APP-GEN SERVS 99-03-02 H FISCAL NOTE FILED 99-03-02 H COMMITTEE APP-GEN SERVS 99-03-05 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary