093_SB1903eng

 
SB1903 Engrossed                     LRB093 08682 RCE 08912 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    of Illinois shall, as soon as possible and not later than the
10    third Wednesday in February of each year beginning  in  1998,
11    submit   a   State  budget,  embracing  therein  the  amounts
12    recommended  by  the  Governor  to  be  appropriated  to  the
13    respective departments, offices, and  institutions,  and  for
14    all  other  public  purposes,  the  estimated  revenues  from
15    taxation,  the  estimated  revenues  from  sources other than
16    taxation, and an estimate of the amount required to be raised
17    by taxation.  The amounts recommended  by  the  Governor  for
18    appropriation  to  the  respective  departments,  offices and
19    institutions shall be formulated  according  to  the  various
20    functions and activities for which the respective department,
21    office  or institution of the State government (including the
22    elective officers in the executive department  and  including
23    the  University  of  Illinois and the judicial department) is
24    responsible. The amounts relating to particular functions and
25    activities shall be further formulated in accordance with the
26    object classification specified in Section 13  of  the  State
27    Finance Act.
28        The  Governor  shall  not  propose  expenditures  and the
29    General Assembly shall not enact appropriations  that  exceed
30    the  resources estimated to be available, as provided in this
31    Section.
 
SB1903 Engrossed            -2-      LRB093 08682 RCE 08912 b
 1        For the purposes of Article VIII, Section 2 of  the  1970
 2    Illinois  Constitution,  the  State  budget for the following
 3    funds  shall  be  prepared  on  the  basis  of  revenue   and
 4    expenditure  measurement  concepts  that  are in concert with
 5    generally accepted accounting principles for governments:
 6             (1)  General Revenue Fund.
 7             (2)  Common School Fund.
 8             (3)  Educational Assistance Fund.
 9             (4)  Road Fund.
10             (5)  Motor Fuel Tax Fund.
11             (6)  Agricultural Premium Fund.
12        These funds shall be known as the "budgeted funds".   The
13    revenue  estimates  used in the State budget for the budgeted
14    funds shall include the  estimated  beginning  fund  balance,
15    plus  revenues  estimated  to be received during the budgeted
16    year, plus the estimated receipts due the State as of June 30
17    of the budgeted year that are expected to be collected during
18    the lapse period  following  the  budgeted  year,  minus  the
19    receipts  collected during the first 2 months of the budgeted
20    year that became due to the State  in  the  year  before  the
21    budgeted year.  Revenues shall also include estimated federal
22    reimbursements  associated with the recognition of Section 25
23    of the State Finance Act liabilities.  For any budgeted  fund
24    for  which  current  year  revenues are anticipated to exceed
25    expenditures,  the  surplus  shall  be  considered  to  be  a
26    resource available for expenditure  in  the  budgeted  fiscal
27    year.
28        Expenditure  estimates for the budgeted funds included in
29    the State budget shall include the costs to  be  incurred  by
30    the  State  for  the  budgeted  year,  to be paid in the next
31    fiscal year, excluding costs paid in the budgeted year  which
32    were  carried  over from the prior year, where the payment is
33    authorized by Section 25 of the State Finance Act.   For  any
34    budgeted  fund  for which expenditures are expected to exceed
 
SB1903 Engrossed            -3-      LRB093 08682 RCE 08912 b
 1    revenues in the current fiscal year,  the  deficit  shall  be
 2    considered as a use of funds in the budgeted fiscal year.
 3        Revenues  and  expenditures  shall also include transfers
 4    between funds that are based on revenues  received  or  costs
 5    incurred during the budget year.
 6        By  March  15  of  each  year,  the  Economic  and Fiscal
 7    Commission shall prepare revenue and fund transfer  estimates
 8    in  accordance  with  the  requirements  of  this Section and
 9    report those  estimates  to  the  General  Assembly  and  the
10    Governor.
11        For all funds other than the budgeted funds, the proposed
12    expenditures shall not exceed funds estimated to be available
13    for  the  fiscal  year as shown in the budget.  Appropriation
14    for a fiscal year shall not exceed  funds  estimated  by  the
15    General Assembly to be available during that year.
16    (Source: P.A. 90-479, eff. 8-17-97; 91-239, eff. 1-1-00.)