Bill Status of HB 4118   102nd General Assembly

Short Description:  FINANCE-BUDGET STABILIZATION

House Sponsors
Rep. Michael Halpin-Jehan Gordon-Booth-Suzanne Ness-Elizabeth Hernandez and Sam Yingling

Last Action  View All Actions

DateChamber Action
  1/10/2023HouseSession Sine Die

Statutes Amended In Order of Appearance
15 ILCS 20/50-40
30 ILCS 105/6z-51
30 ILCS 122/15
30 ILCS 122/20

Synopsis As Introduced
Amends the State Budget Law of the Civil Administrative Code of Illinois. Provides that "general funds" or "State general funds" as used under the Act includes the Pension Stabilization Fund. Amends the State Finance Act. Provides that for fiscal year 2024 and subsequent fiscal years, any transfers into the Budget Stabilization Fund may be transferred to the General Revenue Fund in order for the Comptroller to address outstanding vouchers, and shall not be subject to repayment into the Budget Stabilization Fund if the bill backlog as determined by the Comptroller on June 30 of that fiscal year exceeds $4,000,000,000. Amends the Budget Stabilization Act. Modifies provisions concerning requirements for and transfers into the Budget Stabilization Fund and the Pension Stabilization Fund regarding the State's backlog of bills. Effective immediately.

Actions 
DateChamber Action
  8/5/2021HouseFiled with the Clerk by Rep. Michael Halpin
  9/3/2021HouseFirst Reading
  9/3/2021HouseReferred to Rules Committee
  1/25/2022HouseAssigned to Revenue & Finance Committee
  1/26/2022HouseAdded Chief Co-Sponsor Rep. Jehan Gordon-Booth
  1/26/2022HouseAdded Chief Co-Sponsor Rep. Suzanne Ness
  1/26/2022HouseAdded Chief Co-Sponsor Rep. Elizabeth Hernandez
  2/3/2022HouseTo Income Tax Subcommittee
  2/18/2022HouseRule 19(a) / Re-referred to Rules Committee
  4/7/2022HouseAdded Co-Sponsor Rep. Sam Yingling
  1/10/2023HouseSession Sine Die

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