Bill Text: IL HB4096 | 2009-2010 | 96th General Assembly | Enrolled

---

Bill Title: Amends the Governor's Office of Management and Budget Act. Requires the Office to provide to the legislative leaders and the Comptroller and Treasurer copies of all State financial information submitted to persons not employed by the State and to post the information on its website. Requires the Office to submit financial reports and to post the reports on its website. Sets forth requirements for disclosure and reporting. Effective immediately.

Spectrum: Partisan Bill (Republican 20-0)

Status: (Vetoed) 2009-11-03 - Bill Dead - No Positive Action Taken - Amendatory Veto [HB4096 Detail]

Download: Illinois-2009-HB4096-Enrolled.html

---

HB4096 Enrolled LRB096 09409 RCE 19566 b
AN ACT concerning State government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Governor's Office of Management and Budget
Act is amended by adding Sections 7.1 and 7.2 as follows:
(20 ILCS 3005/7.1 new)
Sec. 7.1. Transparency in finance. The Office shall provide
copies to the President of the Senate, the Speaker of the House
of Representatives, the Minority Leaders of the Senate and
House of Representatives, the Comptroller, and the Treasurer of
all State financial information submitted by the Office or
others on behalf of the Governor or representing the State to
persons not employed by the State, including credit rating
agencies and potential investors in State bonds. State
financial information includes all reports, summaries,
presentations, projections, and other information on the
State's revenues and expenditures, historical data, and
projections. Within 3 business days after the submission of
State financial information to persons not employed by the
State, complete copies of the submitted State financial
information shall be provided to the legislative leaders and a
summary of the information shall be posted on the Office's
website, with a complete copy provided upon request to any

HB4096 Enrolled - 2 - LRB096 09409 RCE 19566 b
person.
(20 ILCS 3005/7.2 new)
Sec. 7.2. Quarterly financial reports. The Office shall
prepare and publish a quarterly financial report to update the
public and the General Assembly on the status of the State's
finances on a quarterly basis. In addition, for the months of
March, April, and May, the Office shall prepare and publish a
monthly financial report. At a minimum, each report shall
include the following information:
(1) A review of the economic outlook, both nationally
and in Illinois.
(2) A review of general funds revenue performance, both
quarterly and year-to-date, and an evaluation of that
performance and how it compares to projections.
(3) The outlook for future general funds revenue
performance, including projections of future general funds
revenues.
In addition, the fourth quarter report for each fiscal year
must include a review of General Assembly action and the
financial plan for the completed fiscal year and the upcoming
fiscal year. The financial plan must include the Governor's
projections for revenues, spending, and end-of-year balances.
Each report shall be posted on the Office's website and
provided to the President of the Senate, Speaker of the House
of Representatives, Minority Leaders of the Senate and House of

HB4096 Enrolled - 3 - LRB096 09409 RCE 19566 b
Representatives, Comptroller, and Treasurer within 30 calendar
days after the end of each fiscal year quarter.
Section 99. Effective date. This Act takes effect upon
becoming law.