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SB2103 Engrossed |
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LRB093 13417 RCE 18730 b |
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| AN ACT concerning State finances.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The State Budget Law of the Civil Administrative |
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| Code of Illinois
is amended by adding Section 50-25 as follows:
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| (15 ILCS 20/50-25 new)
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| Sec. 50-25. Quarterly financial reports. The Governor |
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| shall prepare and
publish a quarterly financial report to |
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| update the public and the General
Assembly on the status of the |
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| State's finances on a quarterly basis. At a
minimum, each |
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| report shall include the following information:
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| (1) A review of the economic outlook, both nationally |
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| and in Illinois.
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| (2) A review of general funds revenue performance, |
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| both quarterly and
year-to-date, and an evaluation of that |
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| performance and how it compares to
projections.
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| (3) The outlook for future general funds revenue |
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| performance, including
projections of future general funds |
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| revenues.
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| In addition, the fourth quarter report for each fiscal year |
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| must include a
review of General Assembly action and the |
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| financial plan for the completed
fiscal year and the upcoming |
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| fiscal year. The financial plan must include the
Governor's |
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| projections for revenues, spending, and end-of-year
balances.
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law.
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