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1 | AN ACT concerning State government.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. If and only if Senate Bill 1959 of the 94th | ||||||
5 | General Assembly becomes law, the State Budget Law of the Civil | ||||||
6 | Administrative Code of Illinois is amended by changing Section | ||||||
7 | 50-5 as follows:
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8 | (15 ILCS 20/50-5) (was 15 ILCS 20/38)
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9 | Sec. 50-5. Governor to submit State budget. The Governor | ||||||
10 | shall, as soon as
possible and not later than the first
second
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11 | Wednesday in March
April in 2007 (March 7, 2007)
2003 and the | ||||||
12 | third
Wednesday in February of each year beginning in 2008
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13 | 2004 , except as otherwise provided in this Section, submit a
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14 | State budget, embracing therein the amounts recommended by the | ||||||
15 | Governor to be
appropriated to the respective departments, | ||||||
16 | offices, and institutions, and
for all other public purposes, | ||||||
17 | the estimated revenues from taxation, the
estimated revenues | ||||||
18 | from sources other than taxation, and an estimate of the
amount | ||||||
19 | required to be raised by taxation. In 2004 only, the Governor | ||||||
20 | shall submit the capital development section of the State | ||||||
21 | budget not later than the fourth Tuesday of March (March 23, | ||||||
22 | 2004). The amounts recommended by the
Governor for | ||||||
23 | appropriation to the respective departments, offices and
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24 | institutions shall be formulated according to the various | ||||||
25 | functions and
activities for which the respective department, | ||||||
26 | office or institution of
the State government (including the | ||||||
27 | elective officers in the executive
department and including the | ||||||
28 | University of Illinois and the judicial
department) is | ||||||
29 | responsible. The amounts relating to particular functions
and | ||||||
30 | activities shall be further formulated in accordance with the | ||||||
31 | object
classification specified in Section 13 of the State | ||||||
32 | Finance Act.
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1 | The Governor shall not propose expenditures and the General | ||||||
2 | Assembly shall
not enact appropriations that exceed the | ||||||
3 | resources estimated to be available,
as provided in this | ||||||
4 | Section.
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5 | For the purposes of Article VIII, Section 2 of the 1970
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6 | Illinois Constitution, the State budget for the following funds | ||||||
7 | shall be
prepared on the basis of revenue and expenditure | ||||||
8 | measurement concepts that are
in concert with generally | ||||||
9 | accepted accounting principles for governments:
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10 | (1) General Revenue Fund.
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11 | (2) Common School Fund.
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12 | (3) Educational Assistance Fund.
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13 | (4) Road Fund.
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14 | (5) Motor Fuel Tax Fund.
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15 | (6) Agricultural Premium Fund.
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16 | These funds shall be known as the "budgeted funds". The | ||||||
17 | revenue
estimates used in the State budget for the budgeted | ||||||
18 | funds shall include the
estimated beginning fund balance, plus
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19 | revenues estimated to be received during the budgeted year, | ||||||
20 | plus the estimated
receipts due the State as of June 30 of the | ||||||
21 | budgeted year that are expected to
be collected during the | ||||||
22 | lapse period following the budgeted year, minus the
receipts | ||||||
23 | collected during the first 2 months of the budgeted year that | ||||||
24 | became
due to the State in the year before the budgeted year. | ||||||
25 | Revenues shall also
include estimated federal reimbursements | ||||||
26 | associated with the recognition of
Section 25 of the State | ||||||
27 | Finance Act liabilities. For any budgeted fund
for which | ||||||
28 | current year revenues are anticipated to exceed expenditures, | ||||||
29 | the
surplus shall be considered to be a resource available for | ||||||
30 | expenditure in the
budgeted fiscal year.
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31 | Expenditure estimates for the budgeted funds included in | ||||||
32 | the State budget
shall include the costs to be incurred by the | ||||||
33 | State for the budgeted year,
to be paid in the next fiscal | ||||||
34 | year, excluding costs paid in the budgeted year
which were | ||||||
35 | carried over from the prior year, where the payment is | ||||||
36 | authorized by
Section
25 of the State Finance Act. For any |
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1 | budgeted fund
for which expenditures are expected to exceed | ||||||
2 | revenues in the current fiscal
year, the deficit shall be | ||||||
3 | considered as a use of funds in the budgeted fiscal
year.
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4 | Revenues and expenditures shall also include transfers | ||||||
5 | between funds that are
based on revenues received or costs | ||||||
6 | incurred during the budget year.
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7 | By
March 15 of each year, the
Commission on Government | ||||||
8 | Forecasting and Accountability shall prepare
revenue and fund | ||||||
9 | transfer estimates in accordance with the requirements of this
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10 | Section and report those estimates to the General Assembly and | ||||||
11 | the Governor.
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12 | For all funds other than the budgeted funds, the proposed | ||||||
13 | expenditures shall
not exceed funds estimated to be available | ||||||
14 | for the fiscal year as shown in the
budget. Appropriation for a | ||||||
15 | fiscal year shall not exceed funds estimated by
the General | ||||||
16 | Assembly to be available during that year.
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17 | (Source: P.A. 93-1, eff. 2-6-03; 93-662, eff. 2-11-04; 93-1067, | ||||||
18 | eff. 1-15-05.)
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19 | Section 99. Effective date. This Act takes effect upon | ||||||
20 | becoming law.
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