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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
5Illinois Revenue Volatility Study Act.
 
6    Section 5. Illinois Revenue Volatility Study.
7    (a) The Commission on Government Forecasting and
8Accountability shall conduct a study of the volatility of the
9sources of general revenue funds collected by the State of
10Illinois.
11    (b) The study shall include, but is not limited to:
12        (1) an examination of Illinois' tax base and tax
13    revenue volatility;
14        (2) the identification of economic variables that may
15    influence the volatility of tax revenue;
16        (3) an analysis of the adequacy of the balances in the
17    Budget Stabilization Fund in relation to the volatility of
18    tax revenues; and
19        (4) an examination of options for a deposit mechanism
20    linked to one or more tax sources on the basis of each tax
21    source's observed volatility, including:
22            (A) an analysis of how the options would have
23        performed historically within Illinois; and

 

 

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1            (B) an analysis of how the options would likely
2        perform based on the most recent revenue forecast.
3    (c) On or before December 31, 2014, the Commission shall
4report its findings to the General Assembly and the Governor.
 
5    Section 10. Repealer. This Act is repealed on December 1,
62015.
 
7    Section 50. The State Budget Law of the Civil
8Administrative Code of Illinois is amended by adding Section
950-22 as follows:
 
10    (15 ILCS 20/50-22 new)
11    Sec. 50-22. Funding for salaries of General Assembly
12members and judges; legislative operations.
13    (a) Beginning July 1, 2014, the aggregate appropriations
14available for salaries for members of the General Assembly and
15judges from all State funds for each State fiscal year shall be
16no less than the total aggregate appropriations made available
17for salaries for members of the General Assembly and judges for
18the immediately preceding fiscal year.
19    (b) Beginning July 1, 2014, the aggregate appropriations
20available for legislative operations from all State funds for
21each State fiscal year shall be no less than the total
22aggregate appropriations made available for legislative
23operations for the immediately preceding fiscal year. For

 

 

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1purposes of this subsection (b), "legislative operations"
2means any expenditure for the operation of the Office of the
3Auditor General, the House of Representatives, the Senate, the
4Legislative Ethics Commission, the Office of the Legislative
5Inspector General, the Joint Committee on Legislative Support
6Services, and the legislative support services agencies.
7    (c) If for any reason the aggregate appropriations made
8available are insufficient to meet the levels required by
9subsections (a) and (b) of this Section, this Section shall
10constitute a continuing appropriation of all amounts necessary
11for these purposes. The General Assembly may appropriate lesser
12amounts by law.
 
13    Section 55. The General Assembly Compensation Act is
14amended by changing Section 1 as follows:
 
15    (25 ILCS 115/1)  (from Ch. 63, par. 14)
16    Sec. 1. Each member of the General Assembly shall receive
17an annual salary of $28,000 or as set by the Compensation
18Review Board, whichever is greater. The following named
19officers, committee chairmen and committee minority spokesmen
20shall receive additional amounts per year for their services as
21such officers, committee chairmen and committee minority
22spokesmen respectively, as set by the Compensation Review Board
23or, as follows, whichever is greater: Beginning the second
24Wednesday in January 1989, the Speaker and the minority leader

 

 

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1of the House of Representatives and the President and the
2minority leader of the Senate, $16,000 each; the majority
3leader in the House of Representatives $13,500; 6 assistant
4majority leaders and 5 assistant minority leaders in the
5Senate, $12,000 each; 6 assistant majority leaders and 6
6assistant minority leaders in the House of Representatives,
7$10,500 each; 2 Deputy Majority leaders in the House of
8Representatives $11,500 each; and 2 Deputy Minority leaders in
9the House of Representatives, $11,500 each; the majority caucus
10chairman and minority caucus chairman in the Senate, $12,000
11each; and beginning the second Wednesday in January, 1989, the
12majority conference chairman and the minority conference
13chairman in the House of Representatives, $10,500 each;
14beginning the second Wednesday in January, 1989, the chairman
15and minority spokesman of each standing committee of the
16Senate, except the Rules Committee, the Committee on
17Committees, and the Committee on Assignment of Bills, $6,000
18each; and beginning the second Wednesday in January, 1989, the
19chairman and minority spokesman of each standing and select
20committee of the House of Representatives, $6,000 each. A
21member who serves in more than one position as an officer,
22committee chairman, or committee minority spokesman shall
23receive only one additional amount based on the position paying
24the highest additional amount. The compensation provided for in
25this Section to be paid per year to members of the General
26Assembly, including the additional sums payable per year to

 

 

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1officers of the General Assembly shall be paid in 12 equal
2monthly installments. The first such installment is payable on
3January 31, 1977. All subsequent equal monthly installments are
4payable on the last working day of the month. A member who has
5held office any part of a month is entitled to compensation for
6an entire month.
7    Mileage shall be paid at the rate of 20 cents per mile
8before January 9, 1985, and at the mileage allowance rate in
9effect under regulations promulgated pursuant to 5 U.S.C.
105707(b)(2) beginning January 9, 1985, for the number of actual
11highway miles necessarily and conveniently traveled by the most
12feasible route to be present upon convening of the sessions of
13the General Assembly by such member in each and every trip
14during each session in going to and returning from the seat of
15government, to be computed by the Comptroller. A member
16traveling by public transportation for such purposes, however,
17shall be paid his actual cost of that transportation instead of
18on the mileage rate if his cost of public transportation
19exceeds the amount to which he would be entitled on a mileage
20basis. No member may be paid, whether on a mileage basis or for
21actual costs of public transportation, for more than one such
22trip for each week the General Assembly is actually in session.
23Each member shall also receive an allowance of $36 per day for
24lodging and meals while in attendance at sessions of the
25General Assembly before January 9, 1985; beginning January 9,
261985, such food and lodging allowance shall be equal to the

 

 

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1amount per day permitted to be deducted for such expenses under
2the Internal Revenue Code; however, beginning May 31, 1995, no
3allowance for food and lodging while in attendance at sessions
4is authorized for periods of time after the last day in May of
5each calendar year, except (i) if the General Assembly is
6convened in special session by either the Governor or the
7presiding officers of both houses, as provided by subsection
8(b) of Section 5 of Article IV of the Illinois Constitution or
9(ii) if the General Assembly is convened to consider bills
10vetoed, item vetoed, reduced, or returned with specific
11recommendations for change by the Governor as provided in
12Section 9 of Article IV of the Illinois Constitution. For
13fiscal year 2011 and for session days in fiscal years 2012,
142013, and 2014, and 2015 only (i) the allowance for lodging and
15meals is $111 per day and (ii) mileage for automobile travel
16shall be reimbursed at a rate of $0.39 per mile.
17    Notwithstanding any other provision of law to the contrary,
18beginning in fiscal year 2012, travel reimbursement for General
19Assembly members on non-session days shall be calculated using
20the guidelines set forth by the Legislative Travel Control
21Board, except that fiscal year 2012, 2013, and 2014, and 2015
22mileage reimbursement is set at a rate of $0.39 per mile.
23    If a member dies having received only a portion of the
24amount payable as compensation, the unpaid balance shall be
25paid to the surviving spouse of such member, or, if there be
26none, to the estate of such member.

 

 

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1(Source: P.A. 97-71, eff. 6-30-11; 97-718, eff. 6-29-12; 98-30,
2eff. 6-24-13.)
 
3    Section 60. The Compensation Review Act is amended by
4adding Section 6.2 as follows:
 
5    (25 ILCS 120/6.2 new)
6    Sec. 6.2. FY15 COLAs prohibited. Notwithstanding any
7former or current provision of this Act, any other law, any
8report of the Compensation Review Board, or any resolution of
9the General Assembly to the contrary, members of the General
10Assembly, State's attorneys, other than the county supplement,
11elected executive branch constitutional officers of State
12government, and persons in certain appointed offices of State
13government, including the membership of State departments,
14agencies, boards, and commissions, whose annual compensation
15previously was recommended or determined by the Compensation
16Review Board, are prohibited from receiving and shall not
17receive any increase in compensation that would otherwise apply
18based on a cost of living adjustment, as authorized by Senate
19Joint Resolution 192 of the 86th General Assembly, for or
20during the fiscal year beginning July 1, 2014.
 
21    Section 65. The State Finance Act is amended by adding
22Section 5k as follows:
 

 

 

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1    (30 ILCS 105/5k new)
2    Sec. 5k. Cash flow borrowing and general funds liquidity;
3FY15.
4    (a) In order to meet cash flow deficits and to maintain
5liquidity in the General Revenue Fund and the Health Insurance
6Reserve Fund, on and after July 1, 2014 and through June 30,
72015, the State Treasurer and the State Comptroller shall make
8transfers to the General Revenue Fund and the Health Insurance
9Reserve Fund, as directed by the Governor, out of special funds
10of the State, to the extent allowed by federal law. No such
11transfer may reduce the cumulative balance of all of the
12special funds of the State to an amount less than the total
13debt service payable during the 12 months immediately following
14the date of the transfer on any bonded indebtedness of the
15State and any certificates issued under the Short Term
16Borrowing Act. At no time shall the outstanding total transfers
17made from the special funds of the State to the General Revenue
18Fund and the Health Insurance Reserve Fund under this Section
19exceed $650,000,000; once the amount of $650,000,000 has been
20transferred from the special funds of the State to the General
21Revenue Fund and the Health Insurance Reserve Fund, additional
22transfers may be made from the special funds of the State to
23the General Revenue Fund and the Health Insurance Reserve Fund
24under this Section only to the extent that moneys have first
25been re-transferred from the General Revenue Fund and the
26Health Insurance Reserve Fund to those special funds of the

 

 

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1State. Notwithstanding any other provision of this Section, no
2such transfer may be made from any special fund that is
3exclusively collected by or appropriated to any other
4constitutional officer without the written approval of that
5constitutional officer.
6    (b) If moneys have been transferred to the General Revenue
7Fund and the Health Insurance Reserve Fund pursuant to
8subsection (a) of this Section, this amendatory Act of the 98th
9General Assembly shall constitute the continuing authority for
10and direction to the State Treasurer and State Comptroller to
11reimburse the funds of origin from the General Revenue Fund by
12transferring to the funds of origin, at such times and in such
13amounts as directed by the Governor when necessary to support
14appropriated expenditures from the funds, an amount equal to
15that transferred from them plus any interest that would have
16accrued thereon had the transfer not occurred, except that any
17moneys transferred pursuant to subsection (a) of this Section
18shall be repaid to the fund of origin within 18 months after
19the date on which they were borrowed. When any of the funds
20from which moneys have been transferred pursuant to subsection
21(a) have insufficient cash from which the State Comptroller may
22make expenditures properly supported by appropriations from
23the fund, then the State Treasurer and State Comptroller shall
24transfer from the General Revenue Fund to the fund only such
25amount as is immediately necessary to satisfy outstanding
26expenditure obligations on a timely basis.

 

 

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1    (c) On the first day of each quarterly period in each
2fiscal year, until such time as a report indicates that all
3moneys borrowed and interest pursuant to this Section have been
4repaid, the Governor's Office of Management and Budget shall
5provide to the President and the Minority Leader of the Senate,
6the Speaker and the Minority Leader of the House of
7Representatives, and the Commission on Government Forecasting
8and Accountability a report on all transfers made pursuant to
9this Section in the prior quarterly period. The report must be
10provided in electronic format. The report must include all of
11the following:
12        (1) The date each transfer was made.
13        (2) The amount of each transfer.
14        (3) In the case of a transfer from the General Revenue
15    Fund to a fund of origin pursuant to subsection (b) of this
16    Section, the amount of interest being paid to the fund of
17    origin.
18        (4) The end of day balance of the fund of origin, the
19    General Revenue Fund and the Health Insurance Reserve Fund
20    on the date the transfer was made.
 
21    Section 99. Effective date. This Act takes effect upon
22becoming law.