92nd General Assembly
Status of SB1082
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   New Act                                                                     
   15 ILCS 20/50-5           was 15 ILCS 20/38                                 
   15 ILCS 20/50-5.5 new                                                       
   15 ILCS 20/50-10          was 15 ILCS 20/38.1                               
   25 ILCS 155/4             from Ch. 63, par. 344                             
   30 ILCS 105/6z-44 new                                                       
   30 ILCS 105/25            from Ch. 127, par. 161                            

        Creates the Rainy Day Budget  Stabilization  Act.   Provides  for      
   transfers  of  moneys into the Budget Stabilization Fund and the Early      
   Debt Retirement Fund from the general revenues  of  the  State  during      
   fiscal  years  in  which  the State's general revenue funds exceed the      
   prior  year's  estimated  general  funds  revenue  by  more  than  4%.      
   Provides for the transfer of moneys from the Budget Stabilization Fund      
   under certain circumstances.  Amends the State Budget Law of the Civil      
   Administrative Code  of  Illinois.   Creates  the  Revenue  Estimating      
   Council.   Provides that the General Assembly must adopt the estimates      
   of the Council.  Provides that in fiscal year 2002 and in each  fiscal      
   year  thereafter, the State budget must contain one or more line items      
   appropriating moneys  to  pay  certain  liabilities  incurred  in  the      
   previous  fiscal  year.   Amends  the  State Finance Act to create the      
   Early Debt Retirement Fund and to make conforming changes.  Amends the      
   Illinois  Economic  and  Fiscal  Commission  Act  to  make  conforming      
   changes.  Effective immediately.                                            
   FEB-22-2001  S  FIRST READING                                                  
   FEB-22-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-28-2001  S       ASSIGNED TO COMMITTEE               EXECUTIVE             
   MAR-08-2001  S       TO SUBCOMMITTEE                                           
   MAR-08-2001  S                   COMMITTEE               EXECUTIVE             
   MAR-31-2001  S  RE-REFERRED TO RULES COMM/RULE 3-9(A)    RULES                 
   JAN-07-2003  S  SESSION SINE DIE                                               


 Full Text  Bill Summary