Bill Text: IL HJR0049 | 2017-2018 | 100th General Assembly | Introduced


Bill Title: States the estimated revenues available for the 2018 Fiscal Year budget based on an assessment by the Commission on Government Forecasting and Accountability.

Spectrum: Partisan Bill (Republican 45-0)

Status: (Introduced) 2017-05-16 - Added Co-Sponsor Rep. Thomas Morrison [HJR0049 Detail]

Download: Illinois-2017-HJR0049-Introduced.html


HJ0049LRB100 12519 MST 25519 r
1
HOUSE JOINT RESOLUTION
2 WHEREAS, Under subsection (b) of Section 2 of Article VIII
3of the Illinois Constitution, appropriations for a fiscal year
4shall not exceed funds estimated by the General Assembly to be
5available during that year; and
6 WHEREAS, Pursuant to this constitutional mandate,
7subsection (a) of Section 4 of the Commission on Government
8Forecasting and Accountability Act directs the Commission to
9publish, on the third Wednesday in March of each year, revised
10revenue estimates for the approaching fiscal year; and
11 WHEREAS, Pursuant to subsection (a) of Section 4 of the
12Commission on Government Forecasting and Accountability Act,
13the Commission, in its discretion, may also consult with the
14Governor's Office of Management and Budget in preparing the
15report; therefore, be it
16 RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE
17HUNDREDTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE SENATE
18CONCURRING HEREIN, that based on the estimate prepared and
19submitted to the General Assembly by the Commission on
20Government Forecasting and Accountability, we estimate the
21general funds to be available during State fiscal year 2018, as
22expressed in millions of dollars, as follows:

HJ0049- 2 -LRB100 12519 MST 25519 r
1Revenue Sources House Estimate
2State Taxes
3Personal Income Tax $15,688
4Corporate Income Tax (regular) $1,900
5Sales Taxes $8,380
6Public Utility (regular) $898
7Cigarette Tax $353
8Liquor Gallonage Taxes $173
9Vehicle Use Tax $30
10Inheritance Tax $280
11Insurance Taxes & Fees $410
12Corporate Franchise Tax & Fees $203
13Interest on State Funds & Investments $32
14Cook County Intergovernmental Transfer $244
15Other Sources $599
16Subtotal $29,190
17Transfers
18Lottery $719
19Riverboat transfers and receipts $262
20Proceeds from sale of 10th license $10
21Refund Fund transfer $0
22Interfund Borrowing $0
23Other $699
24Total State Sources $30,880
25Federal Sources $3,111

HJ0049- 3 -LRB100 12519 MST 25519 r
1Total Federal & State Sources $33,991
2Nongeneral Funds Distribution:
3Refund Fund
4Personal Income Tax ($1,569)
5Corporate Income Tax ($333)
6Fund for Advancement of Education ($471)
7Commitment to Human Services Fund ($471)
8Subtotal General Funds $31,147
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