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92_HB4105 LRB9213151REdv 1 AN ACT concerning the budget emergency. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 1. Short title. This Act may be cited as the 5 Budget Emergency Act of Fiscal Year 2002. 6 Section 5. Contingency reserves. 7 (a) Each entity (including without limitation each 8 office, officer, division, department, bureau, board, 9 commission, agency, and other entity) of the executive, 10 legislative, and judicial branches of State government must 11 establish a contingency reserve with respect to 12 appropriations made to that entity from the General Revenue 13 Fund for State fiscal year 2002. 14 (b) The amount of the contingency reserve established by 15 each entity must equal 3% of the total appropriations made 16 from the General Revenue Fund to that entity for State fiscal 17 year 2002. The entity may allocate the amount of the 18 contingency reserve among its various line item 19 appropriations on an other than prorata basis. 20 (c) Within 10 business days after the effective date of 21 this Act, each entity required to establish a contingency 22 reserve must report the amount of the reserve and its 23 allocation to the State Comptroller, the Bureau of the 24 Budget, and the Illinois Economic and Fiscal Commission. 25 (d) Appropriated amounts designated as a contingency 26 reserve may not be obligated, encumbered, or expended. 27 (e) Any periodic transfers or expenditures that are 28 based upon amounts appropriated must be reduced to 29 accommodate a contingency reserve. Any necessary proration of 30 periodic payments must be distributed equally among the 31 remaining payments for the fiscal year. -2- LRB9213151REdv 1 Section 10. Exemption. This Act applies to appropriations 2 made to the State Board of Education from the General Revenue 3 Fund under Section 20 of Article 1 of Public Act 92-8, but 4 does not apply to any other appropriations made to the State 5 Board of Education from the General Revenue Fund. 6 Section 15. Applicability. This Act applies only to 7 appropriations for State fiscal year 2002. 8 Section 99. Effective date. This Act takes effect upon 9 becoming law.
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