91st General Assembly
Status of HB0932
   [ Home ]   [ Back ]   [ Legislation ]
Please enter a bill number.

 Full Text  Bill Summary

   New Act                                                                     
   30 ILCS 105/5.490 new                                                       

        Creates the Rainy Day Act  and  amends  the  State  Finance  Act.      
   Creates  the  Revenue  Stabilization Fund as a special fund within the      
   State treasury for use in meeting the State's obligations  and  casual      
   deficits.    Provides  that  for  any  year when the State's estimated      
   general funds revenues exceed the prior year's general funds  revenues      
   by  more  than  4%  the Governor shall submit a proposed budget to the      
   General  Assembly   that   includes   transfers   into   the   Revenue      
   Stabilization Fund of an amount not less than 0.25% of the anticipated      
   general  funds  revenues.   Provides  that  the General Assembly shall      
   appropriate no less than  0.25%  of  the  estimated  revenues  to  the      
   Revenue  Stabilization  Fund.  Provides for the transfer of funds into      
   the Revenue Stabilization Fund. Sets a maximum  Revenue  Stabilization      
   Fund  balance  and  provides  transfers into the Fund shall cease when      
   that maximum is met.  Effective immediately.                                
   99-02-11  H  FILED WITH CLERK                                               
   99-02-11  H  ADDED AS A JOINT SPONSOR                 MOFFITT               
   99-02-11  H  ADDED AS A JOINT SPONSOR                 MCKEON                
   99-02-11  H  ADDED AS A JOINT SPONSOR                 POE                   
   99-02-11  H  FIRST READING                                                  
   99-02-11  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   99-02-17  H       ASSIGNED TO COMMITTEE               APP-GEN SERVS         
   99-02-18  H  JOINT-SPONSOR CHANGED TO                 RYDER                 
   99-03-05  H  RE-REFERRED TO RULES COMM/RULE 19(A)     RULES         HRUL    
   01-01-09  H  SESSION SINE DIE                                               


 Full Text  Bill Summary