State of Illinois
92nd General Assembly

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 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.

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