HJ0072LRB103 40485 JDS 72886 r

1
HOUSE JOINT RESOLUTION

 
2    WHEREAS, Under subsection (b) of Section 2 of Article VIII
3of the Illinois Constitution, appropriations for a fiscal year
4shall not exceed funds estimated by the General Assembly to be
5available during that year; and
 
6    WHEREAS, Under subsection (a) of Section 4 of the
7Commission on Government Forecasting and Accountability Act,
8the House and Senate are directed, by joint resolution, to
9adopt or modify the Commission on Government Forecasting and
10Accountability's State revenue estimates for the fiscal year
11as may be appropriate, and the estimate in the joint
12resolution is to constitute the General Assembly's estimate,
13under paragraph (b) of Section 2 of Article VIII of the
14Constitution, of the funds estimated to be available during
15the next fiscal year; therefore, be it
 
16    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE
17HUNDRED THIRD GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE
18SENATE CONCURRING HEREIN, that the House of Representatives,
19using projections provided by the Commission on Government
20Forecasting and Accountability, excluding any revenue
21enhancements proposed by the Governor, estimates the general
22funds to be available during State fiscal year 2025 as
23follows:
 

 

 

 

HJ0072- 2 -LRB103 40485 JDS 72886 r

1House Estimate
2Revenue Sources(in millions)
3State Taxes
4Personal Income Tax
5    (net of refunds).$26,557
6Corporate Income Tax
7    (net of refunds).$4,838
8Sales Tax........................$10,512
9Public Utility (regular).........$691
10Cigarette Tax....................$193
11Liquor Gallonage Taxes...........$182
12Inheritance Tax (gross)..........$610
13Insurance Taxes & Fees...........$501
14Corporate Franchise Tax & Fees...$195
15Interest on State Funds
16    & Investments.$534
17Cook County Intergovernmental
18    Transfer.$244
19Other Sources....................$692
20Subtotal$45,749
21Transfers
22Lottery.$880
23Gaming.$190
24Cannabis.$111

 
 
 

 

 

HJ0072- 3 -LRB103 40485 JDS 72886 r

1Refund Fund.$400
2Other Sources.$778
3Subtotal$2,359
4Total State Sources$48,108
5Total Federal Sources$3,969
6Total Federal & State Sources
$52,077