Illinois Senate Bill 2273 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Democrat 4)
Status: Introduced on January 27 2016 - 25% progression, died in committee
Action: 2016-07-31 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Creates the Budget Economic Stabilization Fund Act. Provides that the Comptroller and the Departments of Healthcare and Family Services, Central Management Services, Human Services, Revenue, and Aging shall report to the Governor no later than January 10th of each year the amount of unpaid bills as of the preceding December 31st. Provides that if unpaid bills total more than $1,000,000,000, the Governor shall include in his or her budget for the next fiscal year an amount to pay off unpaid bills equal to the lesser of (i) 50% of above-trend revenues that the Governor projects to be received by the State in the next fiscal year or (ii) the amount of above-trend revenues needed to reduce the unpaid bills to $1,000,000,000. Provides that the Governor shall include in the budget paying unpaid bills equal to the lesser of (i) 50% of above-trend revenues that the Governor projects to be received by the State in the next fiscal year or (ii) the amount of above-trend revenues needed to reduce the unpaid bills to $1,000,000,000 if unpaid bills total more than $1,000,000,000. Creates the Budget Economic Stabilization Fund and provides for transfers into and withdrawals from the Fund. Creates the Bill Backlog Payment Fund and provides for transfers into and withdrawals from the Fund. Amends the State Finance Act to list the Budget Economic Stabilization Fund and Bill Backlog Payment Fund. Effective immediately.

ECONOMIC STABILIZATION FUND

Sen. Heather Steans [D]

Sen. Thomas Cullerton [D]

Sen. Donne Trotter [D]

Sen. Mattie Hunter [D]

Date	Chamber	Action
2016-07-31	Senate	Pursuant to Senate Rule 3-9(b) / Referred to Assignments
2016-04-08	Senate	Rule 2-10 Committee Deadline Established As May 31, 2016
2016-02-03	Senate	Assigned to Appropriations I
2016-01-29	Senate	Added as Chief Co-Sponsor Sen. Mattie Hunter
2016-01-29	Senate	Sponsor Removed Sen. Mattie Hunter
2016-01-29	Senate	Added as Chief Co-Sponsor Sen. Donne E. Trotter
2016-01-29	Senate	Added as Co-Sponsor Sen. Mattie Hunter
2016-01-28	Senate	Added as Chief Co-Sponsor Sen. Thomas Cullerton
2016-01-27	Senate	Referred to Assignments
2016-01-27	Senate	First Reading
2016-01-27	Senate	Filed with Secretary by Sen. Heather A. Steans

Chapter	Article	Section	Citation Type	Statute Text
30	105	5.875	New Code	See Bill Text
30	105	5.876	New Code	See Bill Text
30	105	6z-51	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2273&GAID=13&DocTypeID=SB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/SB/09900SB2273.htm