Date	Chamber	Action
12/3/2014	House	Session Sine Die

Statutes Amended In Order of Appearance

New Act

30 ILCS 105/5.826 new

30 ILCS 105/5.827 new

30 ILCS 105/5.828 new

Synopsis As Introduced
Creates the Responsible Spending Act. Provides for the calculation of a Spending Growth Index and requires it to be calculated separately for the General Fund, Road Fund, and all other funds. Sets forth requirements for any increase in State revenue or in State spending beyond the Spending Growth Index limitation, including a three-fifths majority vote of all members of each house and submission of the increase to voters by referendum. Permits emergency tax increases in certain circumstances. Creates the Past Due Paydown Fund and provides that the State Comptroller shall transfer to the fund any amount necessary, up to the total past due operating debt owed by the State, from the unappropriated surplus of the General Fund. Creates the Budget Stabilization Fund for Illinois and provides that the State Comptroller shall allocate a portion of unappropriated funds from the General Fund to pay down past operating debt to zero. Creates the Taxpayer Relief Fund and provides that if the amount in this Fund exceeds 1% of General Fund expenditures, the General Assembly shall enact legislation to provide for a refund to taxpayers. Amends the State Finance Act to create the Past Due Paydown Fund, the Budget Stabilization Fund for Illinois, and the Taxpayer Relief Fund.

Actions 

Date	Chamber	Action
2/26/2013	House	Filed with the Clerk by Rep. Thomas Morrison
2/26/2013	House	First Reading
2/26/2013	House	Referred to Rules Committee
3/11/2013	House	Assigned to Revenue & Finance Committee
3/22/2013	House	Rule 19(a) / Re-referred to Rules Committee
12/3/2014	House	Session Sine Die

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