SB3642 102ND GENERAL ASSEMBLY

LRB102 23090 RJF 32246 b

102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB3642

Introduced 1/21/2022, by Sen. Dan McConchie

SYNOPSIS AS INTRODUCED:

25 ILCS 155/4

from Ch. 63, par. 344

Amends the Commission on Government Forecasting and Accountability Act. Provides that the House of Representatives and the Senate, in consultation with the Office of the Governor, shall by joint resolution adopt or modify revenue estimates provided by the Commission on Government Forecasting and Accountability within 2 days after the Governor's Budget Address to the General Assembly or by March 1, whichever occurs first. Provides that the joint resolution shall constitute both the estimate of the General Assembly and the estimate of the Governor of the funds estimated to be available during the next fiscal year. Makes conforming changes.

A BILL FOR

AN ACT concerning State government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Commission on Government Forecasting and Accountability Act is amended by changing Section 4 as follows:

(25 ILCS 155/4) (from Ch. 63, par. 344)

Sec. 4. (a) The Commission shall publish, at the convening of each regular session of the General Assembly, a report on the estimated income of the State from all applicable revenue sources for the next ensuing fiscal year and of any other funds estimated to be available for such fiscal year. The Commission, in its discretion, may consult with the Governor's Office of Management and Budget in preparing the report. On the third Wednesday in March after the session convenes, the Commission shall issue a revised and updated set of revenue figures reflecting the latest available information. The House and Senate, in consultation with the Office of the Governor, shall by joint resolution adopt or modify the revenue estimates within 2 days after the Governor's Budget Address to the General Assembly or by March 1, whichever occurs first by joint resolution shall adopt or modify such estimates as may be appropriate. The joint resolution shall constitute the General Assembly's estimate of the General Assembly and the estimate of the Governor, under paragraph (b) of Section 2 of Article VIII of the Constitution, of the funds estimated to be available during the next fiscal year.

(b) On the third Wednesday in March, the Commission shall issue estimated:

(1) pension funding requirements under P.A. 86-273; and

(2) liabilities of the State employee group health insurance program.

These estimated costs shall be for the fiscal year beginning the following July 1.

(c) The requirement for reporting to the General Assembly shall be satisfied by filing copies of the report as required by Section 3.1 of the General Assembly Organization Act, and filing such additional copies with the State Government Report Distribution Center for the General Assembly as is required under paragraph (t) of Section 7 of the State Library Act.

(Source: P.A. 100-1148, eff. 12-10-18.)