Illinois General Assembly - Full Text of HR0554
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Full Text of HR0554  99th General Assembly




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2    WHEREAS, The State of Illinois has failed to consistently
3budget in a way that provides fiscal stability and employs a
4long-term approach to Illinois' financial health; and
5    WHEREAS, The State lacks the fiscal stability necessary to
6adequately attract and retain new jobs at the levels necessary
7to support robust economic growth; this lack of stability
8drives up costs of providing critical services and programs for
9Illinois residents; and
10    WHEREAS, The lack of consistent long-term budget
11strategies, combined with the recent fiscal downturn, have led
12to a perpetual cycle of crisis budgeting; and
13    WHEREAS, Crisis-driven budgeting has led to a focus on
14short-term needs, rather than the long-term needs of the State;
16    WHEREAS, The instability of Illinois' fiscal situation
17limits the ability of the State to adequately fund education,
18provide for critical human services to those most in need, and
19address unpaid bills; and
20    WHEREAS, Addressing the State's unpaid bills on a



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1consistent basis allows other units of government that are
2dependent on State funds to better plan and more efficiently
3manage their finances, resulting in lower costs for local
4taxpayers and more cost-effective management for other
5providers, such as hospitals, nursing homes, non-profit
6organizations, and others; and
7    WHEREAS, Fluctuations in the economy are inevitable; the
8State must employ budgetary practices to avoid being forced
9back to the drawing board every time there is a revenue
10downturn or unexpected but necessary budgetary demand; and
11    WHEREAS, Consistently carrying billions of dollars of debt
12has negative impacts on the State and is a drain on our State's
13resources in numerous ways, including the application of scarce
14resources to interest payments rather than vital programs and
15services; a negative impact on Illinois' credit rating;
16consistent challenges to institutions and service providers in
17long-term planning; and a lack of confidence in government by
18many citizens of this State; therefore, be it
21urge the General Assembly to implement the following budgeting
23        (1) the Illinois General Assembly should apply any



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1    revenues which exceed expenditures to the payment of any
2    old bills that are more than 45 days past the due date,
3    including General Revenue Fund and non-General Revenue
4    Fund expenditures, at the close of each fiscal year; and
5        (2) if there are no pending bills over 45 days past the
6    due date at such a time, such revenues should be directed
7    to the Budget Stabilization Fund (30 ILCS 122 et seq.),
8    also known as the "Rainy Day Fund"; and be it further
9    RESOLVED, That we urge the Illinois General Assembly to
10provide for the use and maintenance of the Budget Stabilization
11Fund, to be funded as follows:
12        (1) should the growth in the annual revenue estimate
13    exceed 3% from the previous year's estimated revenues, such
14    excess amount should be appropriated "off the top" of
15    estimated available revenues to the Budget Stabilization
16    Fund; and
17        (2) should no unpaid bills remain due over 45 days at
18    the close of each fiscal year, the Illinois General
19    Assembly should apply any revenues which exceed
20    expenditures to the Budget Stabilization Fund.