Illinois General Assembly - Bill Status for SB2554
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 Bill Status of SB2554  101st General Assembly


Short Description:  FINANCE-BUDGET STABILIZATION

Senate Sponsors
Sen. Heather A. Steans - Omar Aquino - Andy Manar - Dan McConchie, Cristina Castro and Bill Cunningham

Last Action
DateChamber Action
  1/13/2021SenateSession Sine Die

Statutes Amended In Order of Appearance
15 ILCS 20/50-40
30 ILCS 105/6z-51
30 ILCS 122/15
30 ILCS 122/20


Synopsis As Introduced
Amends the State Budget Law of the Civil Administrative Code of Illinois. Provides that "general funds" or "State general funds" as used under the Act includes the Pension Stabilization Fund. Amends the State Finance Act. Provides that for fiscal year 2022 and subsequent fiscal years, any transfers into the Budget Stabilization Fund may be transferred to the General Revenue Fund in order for the Comptroller to address outstanding vouchers, and shall not be subject to repayment into the Budget Stabilization Fund if the bill backlog as determined by the Comptroller on June 30 of that fiscal year exceeds $4,000,000,000. Amends the Budget Stabilization Act. Modifies provisions concerning requirements for and transfers into the Budget Stabilization Fund and the Pension Stabilization Fund regarding the State's backlog of bills. Effective immediately.

Actions 
DateChamber Action
  1/29/2020SenateFiled with Secretary by Sen. Heather A. Steans
  1/29/2020SenateFirst Reading
  1/29/2020SenateReferred to Assignments
  2/4/2020SenateAssigned to State Government
  2/5/2020SenateAdded as Chief Co-Sponsor Sen. Omar Aquino
  2/5/2020SenateAdded as Chief Co-Sponsor Sen. Andy Manar
  2/6/2020SenateAdded as Chief Co-Sponsor Sen. Dan McConchie
  2/19/2020SenateDo Pass State Government; 007-000-000
  2/19/2020SenatePlaced on Calendar Order of 2nd Reading February 20, 2020
  2/25/2020SenateAdded as Co-Sponsor Sen. Cristina Castro
  2/25/2020SenateAdded as Co-Sponsor Sen. Bill Cunningham
  3/4/2020SenateSecond Reading
  3/4/2020SenatePlaced on Calendar Order of 3rd Reading March 5, 2020
  3/25/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 7, 2020
  4/12/2020SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  4/23/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 15, 2020
  4/30/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 22, 2020
  5/7/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 29, 2020
  5/15/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 31, 2020
  1/13/2021SenateSession Sine Die

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