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| 1 | AN ACT concerning State government.
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| 2 | Be it enacted by the People of the State of Illinois, | ||||||
| 3 | represented in the General Assembly:
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| 4 | Section 5. The State Budget Law of the Civil Administrative | ||||||
| 5 | Code of Illinois is amended by changing Section 50-5 as | ||||||
| 6 | follows:
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| 7 | (15 ILCS 20/50-5) (was 15 ILCS 20/38)
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| 8 | Sec. 50-5. Governor to submit State budget.
The Governor | ||||||
| 9 | shall, as soon as
possible and and not later than the first
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| 10 | Wednesday in March in 2007 (March 7, 2007) and the third
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| 11 | Wednesday in February of each year beginning in 2008, except as | ||||||
| 12 | otherwise provided in this Section, submit a
State budget, | ||||||
| 13 | embracing therein the amounts recommended by the Governor to be
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| 14 | appropriated to the respective departments, offices, and | ||||||
| 15 | institutions, and
for all other public purposes, the estimated | ||||||
| 16 | revenues from taxation, the
estimated revenues from sources | ||||||
| 17 | other than taxation, and an estimate of the
amount required to | ||||||
| 18 | be raised by taxation. In 2004 only, the Governor shall submit | ||||||
| 19 | the capital development section of the State budget not later | ||||||
| 20 | than the fourth Tuesday of March (March 23, 2004). The amounts | ||||||
| 21 | recommended by the
Governor for appropriation to the respective | ||||||
| 22 | departments, offices and
institutions shall be formulated | ||||||
| 23 | according to the various functions and
activities for which the | ||||||
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| 1 | respective department, office or institution of
the State | ||||||
| 2 | government (including the elective officers in the executive
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| 3 | department and including the University of Illinois and the | ||||||
| 4 | judicial
department) is responsible. The amounts relating to | ||||||
| 5 | particular functions
and activities shall be further | ||||||
| 6 | formulated in accordance with the object
classification | ||||||
| 7 | specified in Section 13 of the State Finance Act. | ||||||
| 8 | The Governor shall not propose expenditures and the General | ||||||
| 9 | Assembly shall
not enact appropriations that exceed the | ||||||
| 10 | resources estimated to be available,
as provided in this | ||||||
| 11 | Section.
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| 12 | For the purposes of Article VIII, Section 2 of the 1970
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| 13 | Illinois Constitution, the State budget for the following funds | ||||||
| 14 | shall be
prepared on the basis of revenue and expenditure | ||||||
| 15 | measurement concepts that are
in concert with generally | ||||||
| 16 | accepted accounting principles for governments:
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| 17 | (1) General Revenue Fund.
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| 18 | (2) Common School Fund.
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| 19 | (3) Educational Assistance Fund.
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| 20 | (4) Road Fund.
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| 21 | (5) Motor Fuel Tax Fund.
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| 22 | (6) Agricultural Premium Fund.
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| 23 | These funds shall be known as the "budgeted funds". The | ||||||
| 24 | revenue
estimates used in the State budget for the budgeted | ||||||
| 25 | funds shall include the
estimated beginning fund balance, plus
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| 26 | revenues estimated to be received during the budgeted year, | ||||||
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| 1 | plus the estimated
receipts due the State as of June 30 of the | ||||||
| 2 | budgeted year that are expected to
be collected during the | ||||||
| 3 | lapse period following the budgeted year, minus the
receipts | ||||||
| 4 | collected during the first 2 months of the budgeted year that | ||||||
| 5 | became
due to the State in the year before the budgeted year. | ||||||
| 6 | Revenues shall also
include estimated federal reimbursements | ||||||
| 7 | associated with the recognition of
Section 25 of the State | ||||||
| 8 | Finance Act liabilities. For any budgeted fund
for which | ||||||
| 9 | current year revenues are anticipated to exceed expenditures, | ||||||
| 10 | the
surplus shall be considered to be a resource available for | ||||||
| 11 | expenditure in the
budgeted fiscal year.
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| 12 | Expenditure estimates for the budgeted funds included in | ||||||
| 13 | the State budget
shall include the costs to be incurred by the | ||||||
| 14 | State for the budgeted year,
to be paid in the next fiscal | ||||||
| 15 | year, excluding costs paid in the budgeted year
which were | ||||||
| 16 | carried over from the prior year, where the payment is | ||||||
| 17 | authorized by
Section
25 of the State Finance Act. For any | ||||||
| 18 | budgeted fund
for which expenditures are expected to exceed | ||||||
| 19 | revenues in the current fiscal
year, the deficit shall be | ||||||
| 20 | considered as a use of funds in the budgeted fiscal
year.
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| 21 | Revenues and expenditures shall also include transfers | ||||||
| 22 | between funds that are
based on revenues received or costs | ||||||
| 23 | incurred during the budget year.
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| 24 | By
March 15 of each year, the
Commission on Government | ||||||
| 25 | Forecasting and Accountability shall prepare
revenue and fund | ||||||
| 26 | transfer estimates in accordance with the requirements of this
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| 1 | Section and report those estimates to the General Assembly and | ||||||
| 2 | the Governor.
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| 3 | For all funds other than the budgeted funds, the proposed | ||||||
| 4 | expenditures shall
not exceed funds estimated to be available | ||||||
| 5 | for the fiscal year as shown in the
budget. Appropriation for a | ||||||
| 6 | fiscal year shall not exceed funds estimated by
the General | ||||||
| 7 | Assembly to be available during that year.
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| 8 | (Source: P.A. 93-1, eff. 2-6-03; 93-662, eff. 2-11-04; 93-1067, | ||||||
| 9 | eff. 1-15-05; 94-1108, eff. 2-16-07.)
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