HB2379eng 100TH GENERAL ASSEMBLY

HB2379 Engrossed LRB100 10145 SGJ 20323 b

AN ACT concerning State government

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

Section 1. Short title. This Act may be cited as the Fiscal Impact Statement Act.

Section 5. Fiscal Impact Statement. Every executive order of the Governor, the purpose or effect of which is to expend any State funds or to increase or decrease the revenues of the State, either directly or indirectly, shall include a fiscal impact statement. A fiscal impact statement shall contain a reliable estimate of the anticipated change in State expenditures or revenues under its provisions together with a reliable estimate of the fiscal impact of its provisions, including but not limited to:

(1) The designation of the fund or funds out of which any expenditures under the order shall be made.

(2) The probable cost for the fiscal year the order is implemented.

(3) A projected cost estimate of the order for each of the 5 succeeding fiscal years.

(4) The probable loss of revenue for the fiscal year of its implementation.

(5) A projected loss of revenue from the order for each of the 5 succeeding fiscal years.

The fiscal impact statement shall also include an explanation of the methodology used to determine the estimated direct and indirect costs or estimated impact.

Section 10. Bond authority; bond rates. If an executive order affects bond authority or bond rates, the fiscal impact statement shall be prepared by the Governor's Office of Management and Budget specifying the estimated total effect on principal and interest. The fiscal impact statement shall include the total principal on all other then-outstanding Bonds of the State.

Section 15. Filing. The fiscal impact statement shall be filed with the Office of the Secretary of State. The fiscal impact statement shall be published on the Office of the Governor's website together with the executive order.

Section 20. Preparation.

(a) Prior to filing the executive order with the Secretary of State, the Governor shall provide a copy of the executive order to the board, commission, department, agency, or other entity of the State which is responsible for implementation of the order. The fiscal impact statement shall be prepared by the board, commission, department, agency, or other entity and furnished to the Governor. Whenever any executive order for which a fiscal impact statement is required affects more than one State board, commission, department, agency, or other entity, the board, commission, department, agency, or other entity most affected by its provisions according to the Governor shall be responsible for preparation of the statement. Whenever any executive order for which a fiscal impact statement is required does not affect a specific board, commission, department, agency or other such entity, the Governor's Office of Management and Budget shall be responsible for preparation of the statement.

(b) In the case of the executive order having a potential fiscal impact on school districts, the fiscal impact statement shall be prepared by the State Superintendent of Education. In the case of the executive order having a potential fiscal impact on community college districts, the fiscal impact statement shall be prepared by the Illinois Community College Board. In the case of the executive order having a potential fiscal impact on state universities, the fiscal impact statement shall be prepared by the Illinois Board of Higher Education.

(c) In the case of the executive order having a potential fiscal impact on units of local government, the fiscal impact statement shall be prepared by the Department of Commerce and Economic opportunity.

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