093_HB0175enr

 
HB0175 Enrolled                      LRB093 04128 RCE 04168 b

 1        AN ACT concerning the State budget.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section  5.  The  State   Budget   Law   of   the   Civil
 5    Administrative  Code  of  Illinois  is  amended  by  changing
 6    Section 50-5 as follows:

 7        (15 ILCS 20/50-5) (was 15 ILCS 20/38)
 8        Sec. 50-5.  Governor to submit State budget. The Governor
 9    shall,  as  soon  as  possible  and not later than the second
10    Wednesday in  April  in  2003  and  the  third  Wednesday  in
11    February  of each year beginning in 2004 1998, submit a State
12    budget, embracing therein  the  amounts  recommended  by  the
13    Governor  to  be  appropriated to the respective departments,
14    offices, and institutions, and for all other public purposes,
15    the estimated revenues from taxation, the estimated  revenues
16    from  sources  other  than  taxation,  and an estimate of the
17    amount required  to  be  raised  by  taxation.   The  amounts
18    recommended   by   the  Governor  for  appropriation  to  the
19    respective departments, offices  and  institutions  shall  be
20    formulated  according to the various functions and activities
21    for which the respective department, office or institution of
22    the State government (including the elective officers in  the
23    executive department and including the University of Illinois
24    and  the  judicial  department)  is  responsible. The amounts
25    relating to particular  functions  and  activities  shall  be
26    further    formulated   in   accordance   with   the   object
27    classification specified in Section 13 of the  State  Finance
28    Act.
29        The  Governor  shall  not  propose  expenditures  and the
30    General Assembly shall not enact appropriations  that  exceed
31    the  resources estimated to be available, as provided in this
 
HB0175 Enrolled             -2-      LRB093 04128 RCE 04168 b
 1    Section.
 2        For the purposes of Article VIII, Section 2 of  the  1970
 3    Illinois  Constitution,  the  State  budget for the following
 4    funds  shall  be  prepared  on  the  basis  of  revenue   and
 5    expenditure  measurement  concepts  that  are in concert with
 6    generally accepted accounting principles for governments:
 7             (1)  General Revenue Fund.
 8             (2)  Common School Fund.
 9             (3)  Educational Assistance Fund.
10             (4)  Road Fund.
11             (5)  Motor Fuel Tax Fund.
12             (6)  Agricultural Premium Fund.
13        These funds shall be known as the "budgeted funds".   The
14    revenue  estimates  used in the State budget for the budgeted
15    funds shall include the  estimated  beginning  fund  balance,
16    plus  revenues  estimated  to be received during the budgeted
17    year, plus the estimated receipts due the State as of June 30
18    of the budgeted year that are expected to be collected during
19    the lapse period  following  the  budgeted  year,  minus  the
20    receipts  collected during the first 2 months of the budgeted
21    year that became due to the State  in  the  year  before  the
22    budgeted year.  Revenues shall also include estimated federal
23    reimbursements  associated with the recognition of Section 25
24    of the State Finance Act liabilities.  For any budgeted  fund
25    for  which  current  year  revenues are anticipated to exceed
26    expenditures,  the  surplus  shall  be  considered  to  be  a
27    resource available for expenditure  in  the  budgeted  fiscal
28    year.
29        Expenditure  estimates for the budgeted funds included in
30    the State budget shall include the costs to  be  incurred  by
31    the  State  for  the  budgeted  year,  to be paid in the next
32    fiscal year, excluding costs paid in the budgeted year  which
33    were  carried  over from the prior year, where the payment is
34    authorized by Section 25 of the State Finance Act.   For  any
 
HB0175 Enrolled             -3-      LRB093 04128 RCE 04168 b
 1    budgeted  fund  for which expenditures are expected to exceed
 2    revenues in the current fiscal year,  the  deficit  shall  be
 3    considered as a use of funds in the budgeted fiscal year.
 4        Revenues  and  expenditures  shall also include transfers
 5    between funds that are based on revenues  received  or  costs
 6    incurred during the budget year.
 7        By  March  15  of  each  year,  the  Economic  and Fiscal
 8    Commission shall prepare revenue and fund transfer  estimates
 9    in  accordance  with  the  requirements  of  this Section and
10    report those  estimates  to  the  General  Assembly  and  the
11    Governor.
12        For all funds other than the budgeted funds, the proposed
13    expenditures shall not exceed funds estimated to be available
14    for  the  fiscal  year as shown in the budget.  Appropriation
15    for a fiscal year shall not exceed  funds  estimated  by  the
16    General Assembly to be available during that year.
17    (Source: P.A. 90-479, eff. 8-17-97; 91-239, eff. 1-1-00.)

18        Section  99.  Effective date.  This Act takes effect upon
19    becoming law.