CON AMEND-STATE FINANCE

Proposes to amend the Finance Article of the Illinois Constitution. Provides that expenditures shall not exceed proposed revenue (rather than funds) estimated to be available for a fiscal year. Provides that except for deficiency or emergency appropriations, all appropriations are expendable only during the fiscal year for which they were appropriated. Provides that no public money shall be expended except as provided by appropriations made by law. Provides that expenditures for any fiscal year shall not exceed the State's revenues and reserves, including proceeds of any debt obligation, for that year. Provides that no debt obligation, except as shall be repaid within the fiscal year of issuance, shall be authorized for the current operation of any State service or program, nor shall the proceeds of any debt obligation be expended for a purpose other than that for which it was authorized. Provides that any law requiring the expenditure of State funds shall be null and void unless, during the session in which the act receives final passage, an appropriation is made for the estimated first-year's funding. Defines "revenue". Effective upon being declared adopted.