Full Text of HB5429 101st General Assembly
HB5429 101ST GENERAL ASSEMBLY
101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
Introduced , by Rep. Deanne M. Mazzochi - Grant Wehrli - Amy Grant, Lindsay Parkhurst, Tom Weber, et al.
SYNOPSIS AS INTRODUCED:
25 ILCS 155/3
from Ch. 63, par. 343
Amends the Commission on Government Forecasting and Accountability
Act. Provides that the Commission on Government Forecasting and
Accountability shall study the property tax laws of Florida, Tennessee, and
Texas and report to the Governor and the General Assembly no later than
December 31, 2020.
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A BILL FOR
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AN ACT concerning State government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The Commission on Government Forecasting and
Accountability Act is amended by changing Section 3 as follows:
(25 ILCS 155/3)
(from Ch. 63, par. 343)
The Commission shall:
(1) Study from time to time and report to the General
economic development and trends in the State.
(2) Make such special economic and fiscal studies as it
appropriate or desirable or as the General Assembly
(3) Based on its studies, recommend such State fiscal
policies as it deems appropriate or desirable
to improve the functioning
of State government and the
economy of the various regions within the
(4) Prepare annually a State economic report.
(5) Provide information for all appropriate
organizations and personnel on economic trends
in relation to long range
planning and budgeting.
(6) Study and make such recommendations as it deems
the General Assembly on local and regional
economic and fiscal policy
and on federal fiscal policy as
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it may affect Illinois.
(7) Review capital expenditures, appropriations and
for both the State's general obligation and
revenue bonding authorities.
At the direction of the
Commission, specific reviews may include
feasibility reviews of existing or proposed revenue bond
projects to determine the accuracy of the original estimate
life of the projects, maintenance requirements
and ability to meet debt
service requirements through their
(8) Receive and review all executive agency and revenue
authority annual and 3 year plans. The Commission
shall prepare a
consolidated review of these plans, an
updated assessment of current
State agency capital plans, a
report on the outstanding and unissued
authorizations, an evaluation of the State's ability to
further bond issues and shall submit them as the
Plan Analysis" to the House and Senate
Appropriations Committees at
least once a year. The
Commission shall annually submit to the General
the first Wednesday of April a report on the State's
capital needs, with particular emphasis upon and
detail of the 5-year
period in the immediate future.
(9) Study and make recommendations it deems
appropriate to the
General Assembly on State bond
financing, bondability guidelines, and
debt management. At
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the direction of the Commission, specific studies
reviews may take into consideration short and long-run
of State bonding and debt management policy.
(10) Comply with the provisions of the "State Debt
Impact Note Act" as now or hereafter amended.
(11) Comply with the provisions of the Pension Impact
Note Act, as now
or hereafter amended.
(12) By August 1st of each year, the Commission must
prepare and cause to
be published a summary report of State
appropriations for the State fiscal year
previous July 1st. The summary report must discuss major
categories of appropriations, the issues the General
Assembly faced in
allocating appropriations, comparisons
with appropriations for previous
State fiscal years, and
other matters helpful in providing the citizens of
with an overall understanding of appropriations for that
The summary report must be written in plain
language and designed for
readability. Publication must be
in newspapers of general circulation in the
of the State to ensure distribution statewide. The summary
report must also be published on the General Assembly's web
(13) Comply with the provisions of the State Facilities
(14) For fiscal year 2012 and thereafter, develop a
3-year budget forecast for the State, including
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opportunities and threats concerning anticipated revenues
and expenditures, with an appropriate level of detail.
(15) Perform the powers, duties, rights, and
responsibilities of the Legislative Research Unit as
transferred to the Commission under Section 7.
(16) Study the property tax laws of Florida, Tennessee,
and Texas and report to the Governor and the General
Assembly no later than December 31, 2020.
The requirement for reporting to the General Assembly shall
by filing copies of the report as required by
Section 3.1 of the General Assembly
Organization Act, and
filing such additional copies with the State Government Report
Center for the General Assembly as is required
under paragraph (t) of
Section 7 of the State Library Act.
(Source: P.A. 100-1148, eff. 12-10-18.)