Bill Text: IL HR0112 | 2017-2018 | 100th General Assembly | Introduced


Bill Title: Urges the State of Illinois to solve its budget crisis with the "1-2-3 Plan".

Spectrum: Bipartisan Bill

Status: (Introduced) 2017-09-28 - Rule 19(b) / Re-referred to Rules Committee [HR0112 Detail]

Download: Illinois-2017-HR0112-Introduced.html


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1
HOUSE RESOLUTION
2 WHEREAS, The State of Illinois has now completed a period
3of over two years of budget uncertainty; during the most recent
418 months of this period, the State has not been operating
5under a constitutional balanced budget of any kind; since
6January 1, 2017, Illinois has not even had a stopgap budget;
7and
8 WHEREAS, On February 1, 2017, Fitch Ratings, one of the
9three largest credit rating firms in the United States, again
10lowered the State's credit rating from BBB+ with a negative
11outlook to BBB with a negative outlook; the new rating is only
12one step above the lowest possible rating for a debtor to
13maintain as an issuer of investment-grade financing; and
14 WHEREAS, Steps to resolve this crisis can be listed in
151-2-3 order as the "1-2-3 Plan"; therefore, be it
16 RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE
17HUNDREDTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
18first, Illinois will complete a budget to meet its immediate
19spending needs through 2018 that is based on the revenue the
20State will receive from existing revenue sources, and includes
21immediate pension reform; and be it further

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1 RESOLVED, That second, Illinois will complete a plan to pay
2off the State's unpaid bills; this can be done in the form of
3revenue bonds or the sale of State assets; and be it further
4 RESOLVED, That third, Illinois will conduct a thorough
5discussion about possible reforms to the operations of State
6and local government units, and that this will be an integral
7part of any discussion about additional sources of funding for
8the general revenue fund; and be it further
9 RESOLVED, That suitable copies of this resolution shall be
10distributed to the Governor of Illinois, the Speaker of the
11Illinois House of Representatives, and the President of the
12Illinois Senate.
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