RIGHTER-RYDER, BLACK, KOSEL, JONES,JOHN, BOST, O'CONNOR, MYERS,RICHARD, MITCHELL,BILL, LAWFER, SOMMER, KLINGLER, WINTERS AND WINKEL. New Act 30 ILCS 105/5.490 new Creates the Rainy Day Fund Act. Provides that for any fiscal year in which the revenues into the State's general funds exceed the prior year's general funds revenues by more than $750,000,000, the excess funds shall be deposited into the Rainy Day Fund, a special fund that is hereby created in the State treasury to retain State revenues for future needs, reduce the need for future tax increases, and provide available resources to meet State obligations whenever failures in revenues occur. Provides that if, at the close of a fiscal year on June 30, the Rainy Day Fund contains more than $500,000,000, then the excess amount shall be transferred to the General Revenue Fund. Provides that transfers from the Rainy Day Fund may be made by appropriation of the General Assembly upon request of the Governor. Amends the State Finance Act to create the Fund. 99-02-11 H FIRST READING 99-02-11 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-02-11 H ADDED AS A CO-SPONSOR BLACK 99-02-11 H ADDED AS A CO-SPONSOR KOSEL 99-02-11 H ADDED AS A CO-SPONSOR JONES,JOHN 99-02-11 H ADDED AS A CO-SPONSOR BOST 99-02-11 H ADDED AS A CO-SPONSOR O'CONNOR 99-02-11 H ADDED AS A CO-SPONSOR ZICKUS 99-02-11 H ADDED AS A CO-SPONSOR MYERS,RICHARD 99-02-11 H ADDED AS A CO-SPONSOR MITCHELL,BILL 99-02-11 H ADDED AS A CO-SPONSOR LAWFER 99-02-11 H ADDED AS A CO-SPONSOR SOMMER 99-02-11 H ADDED AS A CO-SPONSOR KLINGLER 99-02-11 H ADDED AS A CO-SPONSOR WAIT 99-02-11 H ADDED AS A CO-SPONSOR WINTERS 99-02-11 H ADDED AS A CO-SPONSOR WINKEL 99-02-17 H ASSIGNED TO COMMITTEE APP-GEN SERVS 99-02-18 H ADDED AS A JOINT SPONSOR RYDER 99-02-26 H MOTION DO PASS-LOST 006-001-004 HAPG 99-02-26 H REMAINS IN 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