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Amends the State Budget Law of the Civil Administrative Code of Illinois and the Balanced Budget Note Act. Provides that the Pension Stabilization Fund is considered a general fund or a State general fund for the purposes of those Acts. Amends the State Finance Act. Provides that certain amounts transferred from the Budget Stabilization Fund to the General Revenue Fund are not required to be repaid into the Budget Stabilization Fund if the amount of accounts payable exceeds $4,000,000,000. Makes changes concerning monthly reports from State agencies to the Comptroller. Amends the Budget Stabilization Act. Provides that, beginning in Fiscal Year 2027, 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 if (i) revenue estimates of the State's general funds revenues for the fiscal year exceed the prior fiscal year's estimated general funds revenues by more than 4% and (ii) projected accounts payable are estimated by the Comptroller to be less than $3,000,000,000 for the fiscal year. Makes other changes concerning transfers from the Budget Stabilization Fund. Effective immediately.
Introduced
Feb 18, 2025
Last Action
Mar 4, 2026
Session
IL 104th
Sponsors
1 primary · 7 co
Assigned to Revenue & Finance Committee
Rule 19(a) / Re-referred to Rules Committee
Added Co-Sponsor Rep. Elizabeth "Lisa" Hernandez
Added Co-Sponsor Rep. Daniel Didech
Added Co-Sponsor Rep. Dagmara Avelar
Added Co-Sponsor Rep. Edgar González, Jr.
Added Co-Sponsor Rep. Norma Hernandez
To Tax Policy: Finance Subcommittee
Added Co-Sponsor Rep. Jaime M. Andrade, Jr.
Added Co-Sponsor Rep. Rita Mayfield
Assigned to Revenue & Finance Committee
Referred to Rules Committee
First Reading
Filed with the Clerk by Rep. Natalie A. Manley
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Assigned to Revenue & Finance Committee
Natalie A. Manley
Jaime M. Andrade, Jr.
Elizabeth "Lisa" Hernandez
Daniel Didech
Dagmara Avelar
Edgar González, Jr.