103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB5192

 

Introduced 2/9/2024, by Rep. Brad Halbrook

 

SYNOPSIS AS INTRODUCED:
 
New Act

    Creates the Inflation Reduction Act. Provides that the General Assembly shall reduce all discretionary spending appropriations to State agencies during fiscal year 2025 by 5% of the estimated expenditures in fiscal year 2024. Effective immediately.


LRB103 38787 MXP 68924 b

 

 

A BILL FOR

 

HB5192LRB103 38787 MXP 68924 b

1    AN ACT concerning finance.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 1. Short title. This Act may be cited as the
5Inflation Reduction Act.
 
6    Section 5. Definitions. In this Act:
7    "Discretionary spending" means any spending not mandated
8by federal or State law or court order.
9    "State agencies" means any State agency, board,
10commission, or other entity organized under the legislative,
11executive, or judicial branch.
 
12    Section 10. Fiscal Year 2025 spending reductions. The
13General Assembly shall reduce all discretionary spending
14appropriations to State agencies during fiscal year 2025 by 5%
15of the estimated expenditures in fiscal year 2024.
 
16    Section 99. Effective date. This Act takes effect upon
17becoming law.