Bill Status of SB 2273   99th General Assembly

Short Description:  ECONOMIC STABILIZATION FUND

Senate Sponsors
Sen. Heather A. Steans-Thomas Cullerton-Donne E. Trotter-Mattie Hunter

Last Action  View All Actions

DateChamber Action
  1/10/2017SenateSession Sine Die

Statutes Amended In Order of Appearance
New Act
30 ILCS 105/5.875 new
30 ILCS 105/5.876 new
30 ILCS 105/6z-51

Synopsis As Introduced
Creates the Budget Economic Stabilization Fund Act. Provides that the Comptroller and the Departments of Healthcare and Family Services, Central Management Services, Human Services, Revenue, and Aging shall report to the Governor no later than January 10th of each year the amount of unpaid bills as of the preceding December 31st. Provides that if unpaid bills total more than $1,000,000,000, the Governor shall include in his or her budget for the next fiscal year an amount to pay off unpaid bills equal to the lesser of (i) 50% of above-trend revenues that the Governor projects to be received by the State in the next fiscal year or (ii) the amount of above-trend revenues needed to reduce the unpaid bills to $1,000,000,000. Provides that the Governor shall include in the budget paying unpaid bills equal to the lesser of (i) 50% of above-trend revenues that the Governor projects to be received by the State in the next fiscal year or (ii) the amount of above-trend revenues needed to reduce the unpaid bills to $1,000,000,000 if unpaid bills total more than $1,000,000,000. Creates the Budget Economic Stabilization Fund and provides for transfers into and withdrawals from the Fund. Creates the Bill Backlog Payment Fund and provides for transfers into and withdrawals from the Fund. Amends the State Finance Act to list the Budget Economic Stabilization Fund and Bill Backlog Payment Fund. Effective immediately.

Actions 
DateChamber Action
  1/27/2016SenateFiled with Secretary by Sen. Heather A. Steans
  1/27/2016SenateFirst Reading
  1/27/2016SenateReferred to Assignments
  1/28/2016SenateAdded as Chief Co-Sponsor Sen. Thomas Cullerton
  1/29/2016SenateAdded as Co-Sponsor Sen. Mattie Hunter
  1/29/2016SenateAdded as Chief Co-Sponsor Sen. Donne E. Trotter
  1/29/2016SenateSponsor Removed Sen. Mattie Hunter
  1/29/2016SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter
  2/3/2016SenateAssigned to Appropriations I
  4/8/2016SenateRule 2-10 Committee Deadline Established As May 31, 2016
  7/31/2016SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  1/10/2017SenateSession Sine Die

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