Bill Text: IL HB2515 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Amends the Balanced Budget Note Act. Specifies that the Pension Stabilization Fund is a general fund for purposes of identifying supplemental appropriation bills. Amends the State Finance Act. Provides that the monthly reports on State liabilities submitted to the Comptroller by the Department on Aging, the Department of Healthcare and Family Services, the Department of Human Services, the Department of Central Management Services, and the Department of Revenue shall also include certain supplemental information. Amends the Budget Stabilization Act. Modifies provisions placing limits on amounts that may be appropriated, transferred, or diverted by the General Assembly from general funds. Modifies provisions concerning requirements for and transfers into the Budget Stabilization Fund and the Pension Stabilization Fund based on the State's accounts payable. Makes changes to the definition of "estimated general funds revenues". Effective immediately.

Spectrum: Moderate Partisan Bill (Democrat 11-3)

Status: (Introduced) 2023-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB2515 Detail]

Download: Illinois-2023-HB2515-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2515 Introduced , by Rep. Stephanie A. Kifowit SYNOPSIS AS INTRODUCED:
15 ILCS 20/50-40
25 ILCS 80/5 from Ch. 63, par. 42.93-5
30 ILCS 105/6z-51
30 ILCS 105/9.08
30 ILCS 122/10
30 ILCS 122/15
30 ILCS 122/20
Amends the Balanced Budget Note Act. Specifies that the Pension Stabilization Fund is a general fund for purposes of identifying supplemental appropriation bills. Amends the State Finance Act. Provides that the monthly reports on State liabilities submitted to the Comptroller by the Department on Aging, the Department of Healthcare and Family Services, the Department of Human Services, the Department of Central Management Services, and the Department of Revenue shall also include certain supplemental information. Amends the Budget Stabilization Act. Modifies provisions placing limits on amounts that may be appropriated, transferred, or diverted by the General Assembly from general funds. Modifies provisions concerning requirements for and transfers into the Budget Stabilization Fund and the Pension Stabilization Fund based on the State's accounts payable. Makes changes to the definition of "estimated general funds revenues". Effective immediately.
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A BILL FOR
HB2515 LRB103 29717 DTM 56122 b
AN ACT concerning finance.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The State Budget Law of the Civil
Administrative Code of Illinois is amended by changing Section
50-40 as follows:
(15 ILCS 20/50-40)
Sec. 50-40. General funds defined. "General funds" or
"State general funds" means the General Revenue Fund, the
Common School Fund, the General Revenue Common School Special
Account Fund, the Education Assistance Fund, the Fund for the
Advancement of Education, the Commitment to Human Services
Fund, and the Budget Stabilization Fund, and the Pension
Stabilization Fund.
(Source: P.A. 100-23, eff. 7-6-17.)
Section 6. The Balanced Budget Note Act is amended by
changing Section 5 as follows:
(25 ILCS 80/5) (from Ch. 63, par. 42.93-5)
Sec. 5. Supplemental appropriation bill defined. For
purposes of this Act, "supplemental appropriation bill" means
any appropriation bill that is (a) introduced or amended

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(including any changes to legislation by means of the
submission of a conference committee report) on or after July
1 of a fiscal year and (b) proposes (as introduced or as
amended as the case may be) to authorize, increase, decrease,
or reallocate any general funds appropriation for that same
fiscal year. The general funds consist of the General Revenue
Fund, the Common School Fund, the General Revenue Common
School Special Account Fund, the Education Assistance Fund,
the Fund for the Advancement of Education, the Commitment to
Human Services Fund, and the Budget Stabilization Fund, and
the Pension Stabilization Fund.
(Source: P.A. 100-587, eff. 6-4-18.)
Section 10. The State Finance Act is amended by changing
Sections 6z-51 and 9.08 as follows:
(30 ILCS 105/6z-51)
Sec. 6z-51. Budget Stabilization Fund.
(a) The Budget Stabilization Fund, a special fund in the
State Treasury, shall consist of moneys appropriated or
transferred to that Fund, as provided in Section 6z-43 and as
otherwise provided by law. All earnings on Budget
Stabilization Fund investments shall be deposited into that
Fund.
(b) The State Comptroller may direct the State Treasurer
to transfer moneys from the Budget Stabilization Fund to the

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General Revenue Fund in order to meet cash flow deficits
resulting from timing variations between disbursements and the
receipt of funds within a fiscal year. Except as provided in
subsection (b-5), any Any moneys so borrowed in any fiscal
year other than Fiscal Year 2011 shall be repaid by June 30 of
the fiscal year in which they were borrowed. Any moneys so
borrowed in Fiscal Year 2011 shall be repaid no later than July
15, 2011.
(b-5) For Fiscal Year 2025 and each fiscal year
thereafter, any moneys transferred into the Budget
Stabilization Fund pursuant to Section 15 of the Budget
Stabilization Act may be transferred into the General Revenue
Fund in order for the Comptroller to address outstanding
vouchers and shall not be subject to repayment into the Budget
Stabilization Fund if the amount of accounts payable, as
determined by the Comptroller on June 30 of that fiscal year,
exceeds $4,000,000,000.
(c)(Blank). During Fiscal Year 2017 only, amounts may be
expended from the Budget Stabilization Fund only pursuant to
specific authorization by appropriation. Any moneys expended
pursuant to appropriation shall not be subject to repayment.
(d) (Blank). For Fiscal Years 2020 through 2022, any
transfers into the Fund pursuant to the Cannabis Regulation
and Tax Act may be transferred to the General Revenue Fund in
order for the Comptroller to address outstanding vouchers and
shall not be subject to repayment back into the Budget

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Stabilization Fund.
(e) Beginning July 1, 2023, on the first day of each month,
or as soon thereafter as practical, the State Comptroller
shall direct and the State Treasurer shall transfer $3,750,000
from the General Revenue Fund to the Budget Stabilization
Fund.
(Source: P.A. 101-10, eff. 6-5-19; 102-699, eff. 4-19-22.)
(30 ILCS 105/9.08)
Sec. 9.08. State agency reports; bills held by the agency.
(a) Each State agency shall provide a report to the State
Comptroller identifying: (i) current State liabilities held at
the agency, by fund source; (ii) whether the liabilities are
appropriated; and (iii) an estimate of interest penalties
accrued under the State Prompt Payment Act under criteria
prescribed by the State Comptroller. The report shall be
provided monthly in a time and form prescribed by the State
Comptroller in which the State Comptroller may provide a
waiver to the monthly reporting requirement if a State agency
does not have State liabilities. In the monthly reports under
this subsection (a) for January 2024, and in the monthly
reports under this subsection (a) for each January thereafter:
(1) the Department on Aging, the Department of
Healthcare and Family Services, and the Department of
Human Services shall include the total number and
aggregate dollar value of the invoices submitted by that

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agency that may be paid from appropriations in a future
fiscal year under Section 25 because appropriations in the
current fiscal year are insufficient;
(2) the Department of Central Management Services
shall include the total number and aggregate dollar value
of the invoices that may be paid from appropriations in
future fiscal years under Section 25 due to insufficient
resources in the Health Insurance Reserve Fund; and
(3) the Department of Revenue shall include an
estimate of the amount of individual and corporate income
tax overpayments that will not be refunded before the
close of the current fiscal year because deposits into the
Income Tax Refund Fund are insufficient to pay those
refunds.
(b) As soon as possible after receiving a report from a
State agency under subsection (a) of this Section, the State
Comptroller shall post on his or her public-facing website the
information amount reported by the State agency under
subsection (a). The Comptroller shall also include on that
website the liabilities reported to the Comptroller as of the
close of business on December 31 of the previous calendar
year.
(c) For purposes of this Section, "State agency" means:
all executive branch officers, boards, commissions and
agencies created by the Constitution; all officers,
departments, boards, commissions, agencies, institutions,

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authorities, universities, bodies politic and corporate of the
State; and administrative units or corporate outgrowths of the
State government which are created by or pursuant to statute,
other than units of local government and their officers,
school districts and boards of election commissioners; and all
administrative units and corporate outgrowths of the above and
as may be created by executive order of the Governor. "State
agency" does not include any officer, department, board,
commission, agency, unit, or authority of the legislative or
judicial branch.
(Source: P.A. 100-552, eff. 1-1-18.)
Section 15. The Budget Stabilization Act is amended by
changing Sections 10, 15 and 20 as follows:
(30 ILCS 122/10)
Sec. 10. Budget limitations.
(a) Through Fiscal Year 2024, except Except as provided in
subsection (b-5), in addition to Section 50-5 of the State
Budget Law of the Civil Administrative Code of Illinois, 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 when
revenue estimates of the State's general funds revenues exceed
the prior fiscal year's estimated general funds revenues by
more than 4%. Beginning in Fiscal Year 2025, in addition to

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Section 50-5 of the State Budget Law of the Civil
Administrative Code of Illinois, 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.
(b) Through Fiscal Year 2024, except Except as provided in
subsection (b-5), the General Assembly's appropriations and
transfers or diversions as required by law from general funds
shall not exceed 98% of the estimated general funds revenues
for the fiscal year when revenue estimates of the State's
general funds revenues exceed the prior fiscal year's
estimated general funds revenues by more than 4% for 2 or more
consecutive fiscal years.
(b-5) The limitations on appropriations and transfers or
diversions set forth under subsections (a) and (b) do not
apply for State fiscal year 2008.
(c) For the purpose of this Act, through Fiscal Year 2024,
"estimated general funds revenues" include, for each budget
year, all taxes, fees, and other revenues expected to be
deposited into the State's general funds, including recurring
transfers from other State funds into the general funds.

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Beginning in Fiscal Year 2025, "estimated general funds
revenues" means the estimate from the Governor's Office of
Management and Budget under Section 50-5 of the State Budget
Law of the Civil Administrative Code of Illinois of all the
taxes, fees, and other revenues expected to be deposited into
the State's general funds, including recurring transfers from
other State funds into the general funds, but excluding any
federal revenue sources.
Through Fiscal Year 2024, year-over-year Year-over-year
comparisons used to determine the percentage growth factor of
estimated general funds revenues shall exclude the sum of the
following: (i) expected revenues resulting from new taxes or
fees or from tax or fee increases during the first year of the
change, (ii) expected revenues resulting from one-time
receipts or non-recurring transfers in, (iii) expected
proceeds resulting from borrowing, and (iv) increases in
federal grants that must be completely appropriated based on
the terms of the grants.
(Source: P.A. 94-839, eff. 6-6-06; 95-707, eff. 1-11-08.)
(30 ILCS 122/15)
Sec. 15. Transfers to Budget Stabilization Fund. In
furtherance of the State's objective for the Budget
Stabilization Fund to have resources representing 7.5% of the
State's annual general funds revenues:
(a) For each fiscal year when the General Assembly's

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appropriations and transfers or diversions as required by law
from general funds do not exceed 99% of the estimated general
funds revenues pursuant to subsection (a) of Section 10, the
Comptroller shall transfer from the General Revenue Fund as
provided by this Section a total amount equal to 0.5% of the
estimated general funds revenues to the Budget Stabilization
Fund.
(b) Through the Fiscal Year 2024, For each fiscal year
when the General Assembly's appropriations and transfers or
diversions as required by law from general funds do not exceed
98% of the estimated general funds revenues pursuant to
subsection (b) of Section 10, the Comptroller shall transfer
from the General Revenue Fund as provided by this Section a
total amount equal to 1% of the estimated general funds
revenues to the Budget Stabilization Fund.
(c) The Comptroller shall transfer 1/12 of the total
amount to be transferred each fiscal year under this Section
into the Budget Stabilization Fund on the first day of each
month of that fiscal year or as soon thereafter as possible.
The balance of the Budget Stabilization Fund shall not
exceed 7.5% of the total of general funds revenues estimated
for that fiscal year. Beginning in Fiscal Year 2025, once the
balance of the Budget Stabilization Fund is equal to 7.5% of
the total general funds revenues of the prior fiscal year, no
further transfers shall be made into the Budget Stabilization
Fund in that fiscal year. If any of the reports submitted under

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Section 9.08 by the Department on Aging, the Department of
Central Management Services, the Department of Healthcare and
Family Services, the Department of Human Services, or the
Department of Revenue indicate that there are invoices that
have been submitted by that agency that may be paid from
appropriations in future fiscal years because appropriations
in the then current fiscal year are insufficient to pay those
invoices, then the Comptroller shall order transferred and the
Treasurer shall transfer from the General Revenue Fund into
the Health Insurance Reserve Fund, the Healthcare Provider
Relief Fund, or the Income Tax Refund Fund, as applicable, an
amount necessary to reduce those amounts to zero, but not to
exceed a monthly aggregate combined total for all funds of
1/12 of the total amount identified for transfer into those
funds. except as provided by subsection (d) of this Section.
(d) Upon written notice from the Governor to the Clerk of
the House of Representatives, the Secretary of the Senate, and
the Secretary of State pursuant to Section 1.1 of the Short
Term Borrowing Act, the Comptroller may cease the order of any
further transfers into the Budget Stabilization Fund and may
order the transfer, and the Treasurer shall transfer, from the
Budget Stabilization Fund into the General Revenue Fund an
amount deemed necessary to maintain the State's accounts
payable at an amount less than $3,000,000,000. If the written
notice has been provided, the General Assembly may make
transfers or appropriations from the Budget Stabilization Fund

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for the upcoming fiscal year as necessary to provide for the
health, safety, and welfare of the people of the State of
Illinois. If the balance of the Budget Stabilization Fund
exceeds 7.5% of the total general funds revenues estimated for
that fiscal year, the additional transfers are not required
unless there are outstanding liabilities under Section 25 of
the State Finance Act from prior fiscal years. If there are
such outstanding Section 25 liabilities, then the Comptroller
shall continue to transfer 1/12 of the total amount identified
for transfer to the Budget Stabilization Fund on the first day
of each month of that fiscal year or as soon thereafter as
possible to be reserved for those Section 25 liabilities.
Nothing in this Act prohibits the General Assembly from
appropriating additional moneys into the Budget Stabilization
Fund.
(e) (Blank). On or before August 31 of each fiscal year,
the amount determined to be transferred to the Budget
Stabilization Fund shall be reconciled to actual general funds
revenues for that fiscal year. The final transfer for each
fiscal year shall be adjusted so that the total amount
transferred under this Section is equal to the percentage
specified in subsection (a) or (b) of this Section, as
applicable, based on actual general funds revenues calculated
consistently with subsection (c) of Section 10 of this Act for
each fiscal year.
(f) For the fiscal year beginning July 1, 2006 and for each

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fiscal year thereafter, the budget proposal to the General
Assembly shall identify liabilities incurred in a prior fiscal
year under Section 25 of the State Finance Act and the budget
proposal shall provide funding as allowable pursuant to
subsection (d) of this Section, if applicable.
(g) Beginning in Fiscal Year 2025, the Commission on
Government Forecasting and Accountability shall provide in a
report to the General Assembly, the Governor, and the
Comptroller, by January 10 of every year, a review of the first
6 months of revenue for the current fiscal year. If the general
funds revenues for the first 6 months of the then current
fiscal year exceed 4% growth over the first 6 months of the
previous fiscal year and the Comptroller has reported accounts
payable of less than $3,000,000,000, then, by the end of the
fiscal year, the Comptroller shall order the transfer and the
Treasurer shall transfer 0.5% of the updated estimated
revenues for that fiscal year into the Budget Stabilization
Fund and 0.5% of the updated estimated revenues for that
fiscal year into the Pension Stabilization Fund.
(Source: P.A. 102-1115, eff. 1-9-23.)
(30 ILCS 122/20)
(Text of Section WITH the changes made by P.A. 98-599,
which has been held unconstitutional)
Sec. 20. Pension Stabilization Fund.
(a) The Pension Stabilization Fund is hereby created as a

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special fund in the State treasury. Moneys in the fund shall be
used for the sole purpose of making payments to the designated
retirement systems as provided in Section 25.
(b) For each fiscal year through State fiscal year 2014,
when the General Assembly's appropriations and transfers or
diversions as required by law from general funds do not exceed
99% of the estimated general funds revenues pursuant to
subsection (a) of Section 10, the Comptroller shall transfer
from the General Revenue Fund as provided by this Section a
total amount equal to 0.5% of the estimated general funds
revenues to the Pension Stabilization Fund.
(c) For each fiscal year through State fiscal year 2014,
when the General Assembly's appropriations and transfers or
diversions as required by law from general funds do not exceed
98% of the estimated general funds revenues pursuant to
subsection (b) of Section 10, the Comptroller shall transfer
from the General Revenue Fund as provided by this Section a
total amount equal to 1.0% of the estimated general funds
revenues to the Pension Stabilization Fund.
(c-5) In addition to any other amounts required to be
transferred under this Section, in State fiscal year 2016 and
each fiscal year thereafter through State fiscal year 2045, or
when each of the designated retirement systems, as defined in
Section 25, has achieved 100% funding, whichever occurs first,
the State Comptroller shall order transferred and the State
Treasurer shall transfer from the General Revenue Fund to the

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Pension Stabilization Fund an amount equal to 10% of (1) the
sum of the amounts certified by the designated retirement
systems under subsection (a-5) of Section 2-134, subsection
(a-10) of Section 14-135.08, subsection (a-10) of Section
15-165, and subsection (a-10) of Section 16-158 of this Code
for that fiscal year minus (2) the sum of (i) the transfer
required under subsection (c-10) of this Section for that
fiscal year and (ii) the sum of the required State
contributions certified by the retirement systems under
subsection (a) of Section 2-134, subsection (a-5) of Section
14-135.08, subsection (a-5) of Section 15-165, and subsection
(a-5) of Section 16-158 of this Code for that fiscal year. The
transferred amount is intended to represent one-tenth of the
annual savings to the State resulting from the enactment of
this amendatory Act of the 98th General Assembly.
(c-10) In State fiscal year 2019, the State Comptroller
shall order transferred and the State Treasurer shall transfer
$364,000,000 from the General Revenue Fund to the Pension
Stabilization Fund. In State fiscal year 2020 and each fiscal
year thereafter until terminated under subsection (c-15), the
State Comptroller shall order transferred and the State
Treasurer shall transfer $1,000,000,000 from the General
Revenue Fund to the Pension Stabilization Fund.
(c-15) The transfers made beginning in State fiscal year
2020 pursuant to subsection (c-10) of this Section shall
terminate at the end of State fiscal year 2045 or when each of

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the designated retirement systems, as defined in Section 25,
has achieved 100% funding, whichever occurs first.
(d) The Comptroller shall transfer 1/12 of the total
amount to be transferred each fiscal year under this Section
into the Pension Stabilization Fund on the first day of each
month of that fiscal year or as soon thereafter as possible;
except that the final transfer of the fiscal year shall be made
as soon as practical after the August 31 following the end of
the fiscal year.
Until State fiscal year 2015, before the final transfer
for a fiscal year is made, the Comptroller shall reconcile the
estimated general funds revenues used in calculating the other
transfers under this Section for that fiscal year with the
actual general funds revenues for that fiscal year. The final
transfer for the fiscal year shall be adjusted so that the
total amount transferred under this Section for that fiscal
year is equal to the percentage specified in subsection (b) or
(c) of this Section, whichever is applicable, of the actual
general funds revenues for that fiscal year. The actual
general funds revenues for the fiscal year shall be calculated
in a manner consistent with subsection (c) of Section 10 of
this Act.
(Source: P.A. 98-599, eff. 6-1-14.)
(Text of Section WITHOUT the changes made by P.A. 98-599,
which has been held unconstitutional)

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Sec. 20. Pension Stabilization Fund.
(a) The Pension Stabilization Fund is hereby created as a
special fund in the State treasury. Moneys in the fund shall be
used for the sole purpose of making payments to the designated
retirement systems as provided in Section 25.
(b) For each fiscal year when the General Assembly's
appropriations and transfers or diversions as required by law
from general funds do not exceed 99% of the estimated general
funds revenues pursuant to subsection (a) of Section 10, the
Comptroller shall transfer from the General Revenue Fund as
provided by this Section a total amount equal to 0.5% of the
estimated general funds revenues to the Pension Stabilization
Fund. Beginning in Fiscal Year 2025, for each fiscal year when
the General Assembly's appropriations and transfers or
diversions as required by law from general funds do not exceed
99% of the estimated general funds revenues pursuant to
subsection (a) of Section 10 and the Budget Stabilization Fund
is equal to 7.5% of general funds revenues, the Comptroller
shall transfer from the General Revenue Fund as provided by
this Section a total amount equal to 1% of the estimated
general funds revenues into the Pension Stabilization Fund.
(c) Through Fiscal Year 2024, For each fiscal year when
the General Assembly's appropriations and transfers or
diversions as required by law from general funds do not exceed
98% of the estimated general funds revenues pursuant to
subsection (b) of Section 10, the Comptroller shall transfer

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from the General Revenue Fund as provided by this Section a
total amount equal to 1.0% of the estimated general funds
revenues to the Pension Stabilization Fund.
(d) The Comptroller shall transfer 1/12 of the total
amount to be transferred each fiscal year under this Section
into the Pension Stabilization Fund on the first day of each
month of that fiscal year or as soon thereafter as possible;
except that the final transfer of the fiscal year shall be made
as soon as practical after the August 31 following the end of
the fiscal year.
Before the final transfer for a fiscal year is made, the
Comptroller shall reconcile the estimated general funds
revenues used in calculating the other transfers under this
Section for that fiscal year with the actual general funds
revenues for that fiscal year. The final transfer for the
fiscal year shall be adjusted so that the total amount
transferred under this Section for that fiscal year is equal
to the percentage specified in subsection (b) or (c) of this
Section, whichever is applicable, of the actual general funds
revenues for that fiscal year. The actual general funds
revenues for the fiscal year shall be calculated in a manner
consistent with subsection (c) of Section 10 of this Act.
(Source: P.A. 94-839, eff. 6-6-06.)
Section 99. Effective date. This Act takes effect upon
becoming law.