SCHOENBERG-GRANBERG-HOLBROOK-GASH-GARRETT, ACEVEDO, MCKEON, FEIGENHOLTZ, FRITCHEY, ERWIN AND CURRY,JULIE. New Act 30 ILCS 105/5.490 new Creates the Rainy Day Fund Act and amends the State Finance Act. Creates the Revenue Stabilization Fund as a special fund within the State treasury for use in meeting the State's obligations and casual deficits. Provides that for any year when the State's estimated general funds revenues exceed the prior year's general funds revenues by more than 4%, the Governor shall submit to the General Assembly a proposed budget that includes transfers into the Revenue Stabilization Stabilization Fund of an amount not less than 0.25% of the anticipated general funds revenues. Provides that the General Assembly shall appropriate no less than 0.25% of estimated revenues to the Revenue Stabilization Fund. Provides for the transfer of funds into the Revenue Stabilization Fund. Provides for transfers into the General Revenue Fund when that fund's resources are insufficient to meet the State's obligations. Effective immediately. FISCAL NOTE (State Treasurer) HB75 will have no effect on the State's finances. FISCAL NOTE (Bureau of the Budget) HB75 does not require the expenditure of funds by the State nor does it change the revenues of the State. 98-12-17 H PREFILED WITH CLERK 99-01-14 H FIRST READING 99-01-14 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-01-19 H ADDED AS A JOINT SPONSOR GRANBERG 99-01-27 H ASSIGNED TO COMMITTEE CONST OFFICER 99-02-01 H ADDED AS A CO-SPONSOR HOLBROOK 99-02-03 H ADDED AS A CO-SPONSOR ACEVEDO 99-02-03 H ADDED AS A CO-SPONSOR GARRETT 99-02-03 H ADDED AS A CO-SPONSOR MCKEON 99-02-05 H FISCAL NOTE FILED 99-02-05 H FISCAL NOTE FILED 99-02-05 H COMMITTEE CONST OFFICER 99-02-10 H ADDED AS A CO-SPONSOR RONEN 99-02-10 H ADDED AS A CO-SPONSOR FEIGENHOLTZ 99-02-18 H ADDED AS A CO-SPONSOR FRITCHEY 99-02-22 H ADDED AS A CO-SPONSOR ERWIN 99-03-05 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 99-03-09 H JOINT-SPONSOR CHANGED TO GASH 99-03-09 H ADDED AS A CO-SPONSOR ACEVEDO 99-03-10 H ADDED AS A CO-SPONSOR CURRY,JULIE 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary