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| 1 | HOUSE JOINT RESOLUTION
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| 2 | WHEREAS, Under subsection (b) of Section 2 of Article VIII | ||||||
| 3 | of the Illinois Constitution, appropriations for
a fiscal year | ||||||
| 4 | shall not exceed funds estimated by the General Assembly to be | ||||||
| 5 | available during that year; and
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| 6 | WHEREAS, Pursuant to this constitutional mandate, | ||||||
| 7 | subsection (a) of Section 4 of the Commission on
Government | ||||||
| 8 | Forecasting and Accountability Act directs the Commission to | ||||||
| 9 | publish, on
the third Wednesday in March of each year, revised | ||||||
| 10 | revenue estimates for the approaching fiscal year; and
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| 11 | WHEREAS, Pursuant to subsection (a) of Section 4 of the | ||||||
| 12 | Commission on Government Forecasting and
Accountability Act, | ||||||
| 13 | the Commission, in its discretion, may also consult with the
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| 14 | Governor's Office of Management and Budget in preparing the | ||||||
| 15 | report; therefore, be it
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| 16 | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE | ||||||
| 17 | HUNDREDTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE SENATE | ||||||
| 18 | CONCURRING HEREIN, that based on the estimate prepared and
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| 19 | submitted to the General Assembly by the Commission on | ||||||
| 20 | Government Forecasting and
Accountability, we estimate the | ||||||
| 21 | general funds to be available during
State fiscal year 2018, as | ||||||
| 22 | expressed in millions of dollars, as follows:
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| 1 | Revenue Sources House Estimate | ||||||
| 2 | State Taxes | ||||||
| 3 | Personal Income Tax $15,688 | ||||||
| 4 | Corporate Income Tax (regular) $1,900 | ||||||
| 5 | Sales Taxes $8,380 | ||||||
| 6 | Public Utility (regular) $898 | ||||||
| 7 | Cigarette Tax $353 | ||||||
| 8 | Liquor Gallonage Taxes $173 | ||||||
| 9 | Vehicle Use Tax $30 | ||||||
| 10 | Inheritance Tax $280 | ||||||
| 11 | Insurance Taxes & Fees $410 | ||||||
| 12 | Corporate Franchise Tax & Fees $203 | ||||||
| 13 | Interest on State Funds & Investments $32 | ||||||
| 14 | Cook County Intergovernmental Transfer $244
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| 15 | Other Sources $599 | ||||||
| 16 | Subtotal $29,190 | ||||||
| 17 | Transfers | ||||||
| 18 | Lottery $719 | ||||||
| 19 | Riverboat transfers and receipts $262 | ||||||
| 20 | Proceeds from sale of 10th license $10 | ||||||
| 21 | Refund Fund transfer $0 | ||||||
| 22 | Interfund Borrowing $0 | ||||||
| 23 | Other $699 | ||||||
| 24 | Total State Sources $30,880 | ||||||
| 25 | Federal Sources $3,111 | ||||||
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| 1 | Total Federal & State Sources $33,991 | ||||||
| 2 | Nongeneral Funds Distribution: | ||||||
| 3 | Refund Fund | ||||||
| 4 | Personal Income Tax ($1,569) | ||||||
| 5 | Corporate Income Tax ($333) | ||||||
| 6 | Fund for Advancement of Education ($471) | ||||||
| 7 | Commitment to Human Services Fund ($471) | ||||||
| 8 | Subtotal General Funds $31,147
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