(30 ILCS 122/10)
Sec. 10. Budget limitations.
(a) Except as provided in subsection (b-5), in addition to Section 50-5 of the State Budget Law
of the Civil Administrative Code of Illinois, the General
Assembly's appropriations and transfers or diversions as required by
law from general funds shall not exceed
99%
of the estimated general funds revenues for the fiscal
year when revenue estimates of the State's general funds
revenues exceed the prior fiscal year's estimated general
funds revenues by more than 4%.
(b) Except as provided in subsection (b-5), the General Assembly's appropriations and transfers or
diversions as required by law from general
funds shall not exceed 98% of the estimated general funds
revenues for the fiscal year when revenue estimates of the
State's general funds revenues exceed the prior fiscal year's
estimated general funds revenues by more than 4% for 2 or
more consecutive fiscal years.
(b-5) The limitations on appropriations and transfers or diversions set forth under subsections (a) and (b) do not apply for State fiscal year 2008. (c) For the purpose of this Act, "estimated general funds revenues"
include, for each budget year, all taxes, fees, and other revenues
expected to be deposited into the State's general funds, including
recurring transfers from other State funds into the general funds.
Year-over-year comparisons used to determine the percentage growth
factor of estimated general funds revenues shall exclude the sum of the
following: (i) expected revenues resulting from new taxes or fees or
from tax or fee increases during the first year of the change, (ii)
expected revenues resulting from one-time receipts or non-recurring
transfers in, (iii) expected proceeds resulting from borrowing, and
(iv) increases in federal grants that must be completely appropriated
based on the terms of the grants.
(Source: P.A. 94-839, eff. 6-6-06; 95-707, eff. 1-11-08.) |