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92_HB4105
LRB9213151REdv
1 AN ACT concerning the budget emergency.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 1. Short title. This Act may be cited as the
5 Budget Emergency Act of Fiscal Year 2002.
6 Section 5. Contingency reserves.
7 (a) Each entity (including without limitation each
8 office, officer, division, department, bureau, board,
9 commission, agency, and other entity) of the executive,
10 legislative, and judicial branches of State government must
11 establish a contingency reserve with respect to
12 appropriations made to that entity from the General Revenue
13 Fund for State fiscal year 2002.
14 (b) The amount of the contingency reserve established by
15 each entity must equal 3% of the total appropriations made
16 from the General Revenue Fund to that entity for State fiscal
17 year 2002. The entity may allocate the amount of the
18 contingency reserve among its various line item
19 appropriations on an other than prorata basis.
20 (c) Within 10 business days after the effective date of
21 this Act, each entity required to establish a contingency
22 reserve must report the amount of the reserve and its
23 allocation to the State Comptroller, the Bureau of the
24 Budget, and the Illinois Economic and Fiscal Commission.
25 (d) Appropriated amounts designated as a contingency
26 reserve may not be obligated, encumbered, or expended.
27 (e) Any periodic transfers or expenditures that are
28 based upon amounts appropriated must be reduced to
29 accommodate a contingency reserve. Any necessary proration of
30 periodic payments must be distributed equally among the
31 remaining payments for the fiscal year.
-2- LRB9213151REdv
1 Section 10. Exemption. This Act applies to appropriations
2 made to the State Board of Education from the General Revenue
3 Fund under Section 20 of Article 1 of Public Act 92-8, but
4 does not apply to any other appropriations made to the State
5 Board of Education from the General Revenue Fund.
6 Section 15. Applicability. This Act applies only to
7 appropriations for State fiscal year 2002.
8 Section 99. Effective date. This Act takes effect upon
9 becoming law.