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92_HB6299
LRB9217626JMcs
1 AN ACT concerning the State budget.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The State Budget Law of the Civil
5 Administrative Code of Illinois is amended by adding Section
6 50-25 as follows:
7 (15 ILCS 20/50-25 new)
8 Sec. 50-25. Appropriation levels; revenue excesses.
9 (a) Any law to the contrary notwithstanding, the total
10 appropriations for a fiscal year submitted by the Governor
11 and adopted by the General Assembly for each State agency
12 shall not exceed the amount of total appropriations for that
13 agency for fiscal year 2003. This subsection does not apply
14 to elementary and secondary education appropriations subject
15 to Section 50-20 (the Responsible Education Funding Law).
16 (b) Any law to the contrary notwithstanding, any State
17 revenues received for a fiscal year in excess of an amount
18 equal to the total fiscal year 2003 State budget shall be
19 transferred to the Budget Stabilization Fund. This
20 subsection does not apply to revenues necessary for that
21 portion of elementary and secondary education appropriations
22 in excess of the fiscal year 2003 elementary and secondary
23 education appropriations.
24 (c) This Section applies beginning with fiscal year 2004
25 appropriations and revenues.
26 Section 99. Effective date. This Act takes effect upon
27 becoming law.