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Public Act 92-0067
SB502 Enrolled LRB9203374REdv
AN ACT concerning appropriation reporting.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Economic and Fiscal Commission
Act is amended by changing Section 3 as follows:
(25 ILCS 155/3) (from Ch. 63, par. 343)
Sec. 3. The Commission shall:
(1) Study from time to time and report to the General
Assembly on economic development and trends in the State.
(2) Make such special economic and fiscal studies as it
deems appropriate or desirable or as the General Assembly may
request.
(3) Based on its studies, recommend such State fiscal
and economic policies as it deems appropriate or desirable to
improve the functioning of State government and the economy
of the various regions within the State.
(4) Prepare annually a State economic report.
(5) Provide information for all appropriate legislative
organizations and personnel on economic trends in relation to
long range planning and budgeting.
(6) Study and make such recommendations as it deems
appropriate to the General Assembly on local and regional
economic and fiscal policy and on federal fiscal policy as it
may affect Illinois.
(7) Review capital expenditures, appropriations and
authorizations for both the State's general obligation and
revenue bonding authorities. At the direction of the
Commission, specific reviews may include economic feasibility
reviews of existing or proposed revenue bond projects to
determine the accuracy of the original estimate of useful
life of the projects, maintenance requirements and ability to
meet debt service requirements through their operating
expenses.
(8) Receive and review all executive agency and revenue
bonding authority annual and 3 year plans. The Commission
shall prepare a consolidated review of these plans, an
updated assessment of current State agency capital plans, a
report on the outstanding and unissued bond authorizations,
an evaluation of the State's ability to market further bond
issues and shall submit them as the "Legislative Capital Plan
Analysis" to the House and Senate Appropriations Committees
at least once a year. The Commission shall annually submit
to the General Assembly on the first Wednesday of April a
report on the State's long-term capital needs, with
particular emphasis upon and detail of the 5-year period in
the immediate future.
(9) Study and make recommendations it deems appropriate
to the General Assembly on State bond financing, bondability
guidelines, and debt management. At the direction of the
Commission, specific studies and reviews may take into
consideration short and long-run implications of State
bonding and debt management policy.
(10) Comply with the provisions of the "State Debt
Impact Note Act" as now or hereafter amended.
(11) Comply with the provisions of the Pension Impact
Note Act, as now or hereafter amended.
(12) By August 1st of each year, the Commission must
prepare and cause to be published a summary report of State
appropriations for the State fiscal year beginning the
previous July 1st. The summary report must discuss major
categories of appropriations, the issues the General Assembly
faced in allocating appropriations, comparisons with
appropriations for previous State fiscal years, and other
matters helpful in providing the citizens of Illinois with an
overall understanding of appropriations for that fiscal year.
The summary report must be written in plain language and
designed for readability. Publication must be in newspapers
of general circulation in the various areas of the State to
ensure distribution statewide. The summary report must also
be published on the General Assembly's web site.
The requirement for reporting to the General Assembly
shall be satisfied by filing copies of the report with the
Speaker, the Minority Leader and the Clerk of the House of
Representatives and the President, the Minority Leader and
the Secretary of the Senate and the Legislative Research
Unit, as required by Section 3.1 of "An Act to revise the law
in relation to the General Assembly", approved February 25,
1874, as amended, and filing such additional copies with the
State Government Report Distribution Center for the General
Assembly as is required under paragraph (t) of Section 7 of
the State Library Act.
(Source: P.A. 86-192.)
Section 99. Effective date. This Act takes effect upon
becoming law.
Passed in the General Assembly April 25, 2001.
Approved July 12, 2001.
Effective July 12, 2001.
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