Bill Text: IL HJR0050 | 2017-2018 | 100th General Assembly | Introduced


Bill Title: States the estimated revenue that will be available for the FY 2018 budget based on an assessment by the Governor's Office of Management and Budget.

Spectrum: Partisan Bill (Republican 45-0)

Status: (Introduced) 2017-05-16 - Added Co-Sponsor Rep. Thomas Morrison [HJR0050 Detail]

Download: Illinois-2017-HJR0050-Introduced.html


HJ0050LRB100 12520 MST 25520 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 Governor's Office of
20Management and Budget, we estimate the general funds to be
21available during State fiscal year 2018, as expressed in
22millions of dollars, as follows:

HJ0050- 2 -LRB100 12520 MST 25520 r
1Revenue Sources House Estimate
2State Taxes
3Personal Income Tax $16,093
4Corporate Income Tax (regular) $1,989
5Sales Taxes $8,305
6Public Utility (regular) $917
7Cigarette Tax $353
8Liquor Gallonage Taxes $172
9Vehicle Use Tax $29
10Inheritance Tax $275
11Insurance Taxes & Fees $395
12Corporate Franchise Tax & Fees $203
13Interest on State Funds & Investments $24
14Cook County Intergovernmental Transfer $244
15Other Sources $568
16Subtotal $29,567
17Transfers
18Lottery $719
19Riverboat transfers and receipts $274
20Proceeds from sale of 10th license $10
21Refund Fund transfer $0
22Interfund Borrowing $0
23Other $720
24Total State Sources $31,290

HJ0050- 3 -LRB100 12520 MST 25520 r
1Federal Sources $3,111
2Total Federal & State Sources $34,401
3Nongeneral Funds Distribution:
4Refund Fund
5Personal Income Tax ($1,609)
6Corporate Income Tax ($348)
7Fund for Advancement of Education ($484)
8Commitment to Human Services Fund ($484)
9 Subtotal General Funds $31,476
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