Comments: IL HB3871 | 2017-2018 | 100th General Assembly

Bill Title: Amends the State Budget Law. Provides for a continuing appropriation for funding of public education and human services. Amends the State Comptroller Act. Provides that if any cash flow deficit resulting from timing variation between disbursement and receipt of funds in the General Revenue Fund is anticipated, the Comptroller's efforts to manage timing variations shall include issuing payments for education and human services before issuing payments for financial services. Amends the State Treasurer Act. Provides that when any warrant is presented to the State Treasurer to be countersigned, he shall do so if the warrant is in proper form, there are sufficient moneys in the fund to pay the warrant, and payments for education and human services have been issued. Amends the General Obligation Bond Act. Provides that the irrevocable and continuing authority to appropriate funds under the Act shall cover payments to bondholders, but shall not cover fees for credit enhancements or net payments on interest rate swap agreements, or financial futures contracts associated with General Obligation Bonds. Defines terms.

Spectrum: Partisan Bill (Democrat 28-0)

Status: (Introduced) 2017-07-06 - Rule 19(a) / Re-referred to Rules Committee [HB3871 Detail]

Text: Latest bill text (Introduced) [HTML]

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