Illinois General Assembly - Full Text of HB5429
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Full Text of HB5429  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.


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.

LRB101 18984 HLH 68443 b






HB5429LRB101 18984 HLH 68443 b

1    AN ACT concerning State government.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Commission on Government Forecasting and
5Accountability Act is amended by changing Section 3 as follows:
6    (25 ILCS 155/3)  (from Ch. 63, par. 343)
7    Sec. 3. The Commission shall:
8        (1) Study from time to time and report to the General
9    Assembly on economic development and trends in the State.
10        (2) Make such special economic and fiscal studies as it
11    deems appropriate or desirable or as the General Assembly
12    may request.
13        (3) Based on its studies, recommend such State fiscal
14    and economic policies as it deems appropriate or desirable
15    to improve the functioning of State government and the
16    economy of the various regions within the State.
17        (4) Prepare annually a State economic report.
18        (5) Provide information for all appropriate
19    legislative organizations and personnel on economic trends
20    in relation to long range planning and budgeting.
21        (6) Study and make such recommendations as it deems
22    appropriate to the General Assembly on local and regional
23    economic and fiscal policy and on federal fiscal policy as



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1    it may affect Illinois.
2        (7) Review capital expenditures, appropriations and
3    authorizations for both the State's general obligation and
4    revenue bonding authorities. At the direction of the
5    Commission, specific reviews may include economic
6    feasibility reviews of existing or proposed revenue bond
7    projects to determine the accuracy of the original estimate
8    of useful life of the projects, maintenance requirements
9    and ability to meet debt service requirements through their
10    operating expenses.
11        (8) Receive and review all executive agency and revenue
12    bonding authority annual and 3 year plans. The Commission
13    shall prepare a consolidated review of these plans, an
14    updated assessment of current State agency capital plans, a
15    report on the outstanding and unissued bond
16    authorizations, an evaluation of the State's ability to
17    market further bond issues and shall submit them as the
18    "Legislative Capital Plan Analysis" to the House and Senate
19    Appropriations Committees at least once a year. The
20    Commission shall annually submit to the General Assembly on
21    the first Wednesday of April a report on the State's
22    long-term capital needs, with particular emphasis upon and
23    detail of the 5-year period in the immediate future.
24        (9) Study and make recommendations it deems
25    appropriate to the General Assembly on State bond
26    financing, bondability guidelines, and debt management. At



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1    the direction of the Commission, specific studies and
2    reviews may take into consideration short and long-run
3    implications of State bonding and debt management policy.
4        (10) Comply with the provisions of the "State Debt
5    Impact Note Act" as now or hereafter amended.
6        (11) Comply with the provisions of the Pension Impact
7    Note Act, as now or hereafter amended.
8        (12) By August 1st of each year, the Commission must
9    prepare and cause to be published a summary report of State
10    appropriations for the State fiscal year beginning the
11    previous July 1st. The summary report must discuss major
12    categories of appropriations, the issues the General
13    Assembly faced in allocating appropriations, comparisons
14    with appropriations for previous State fiscal years, and
15    other matters helpful in providing the citizens of Illinois
16    with an overall understanding of appropriations for that
17    fiscal year. The summary report must be written in plain
18    language and designed for readability. Publication must be
19    in newspapers of general circulation in the various areas
20    of the State to ensure distribution statewide. The summary
21    report must also be published on the General Assembly's web
22    site.
23        (13) Comply with the provisions of the State Facilities
24    Closure Act.
25        (14) For fiscal year 2012 and thereafter, develop a
26    3-year budget forecast for the State, including



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1    opportunities and threats concerning anticipated revenues
2    and expenditures, with an appropriate level of detail.
3        (15) Perform the powers, duties, rights, and
4    responsibilities of the Legislative Research Unit as
5    transferred to the Commission under Section 7.
6        (16) Study the property tax laws of Florida, Tennessee,
7    and Texas and report to the Governor and the General
8    Assembly no later than December 31, 2020.
9    The requirement for reporting to the General Assembly shall
10be satisfied by filing copies of the report as required by
11Section 3.1 of the General Assembly Organization Act, and
12filing such additional copies with the State Government Report
13Distribution Center for the General Assembly as is required
14under paragraph (t) of Section 7 of the State Library Act.
15(Source: P.A. 100-1148, eff. 12-10-18.)