FINANCE-GENERAL FUNDS
Summary
Amends the State Budget Law of the Civil Administrative Code of Illinois and the Balanced Budget Note Act. Provides that the Pension Stabilization Fund is considered a general fund or a State general fund for the purposes of those Acts. Amends the State Finance Act. Provides that certain amounts transferred from the Budget Stabilization Fund to the General Revenue Fund are not required to be repaid into the Budget Stabilization Fund if the amount of accounts payable exceeds $4,000,000,000. Makes changes concerning monthly reports from State agencies to the Comptroller. Amends the Budget Stabilization Act. Provides that, beginning in Fiscal Year 2027, the General Assembly's appropriations and transfers or diversions as required by law from general funds shall not exceed 99% of the estimated general funds revenues for the fiscal year if (i) revenue estimates of the State's general funds revenues for the fiscal year exceed the prior fiscal year's estimated general funds revenues by more than 4% and (ii) projected accounts payable are estimated by the Comptroller to be less than $3,000,000,000 for the fiscal year. Makes other changes concerning transfers from the Budget Stabilization Fund. Effective immediately.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 7, 2025
Last action Mar 27, 2026
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
16
Key actions
2
Committee
7
Mar 27, 2026
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Mar 19, 2026
Lower · Passed
To Tax Policy: Finance Subcommittee
lower
Mar 4, 2026
Committee
Assigned to Revenue & Finance Committee
lower
Mar 21, 2025
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Mar 13, 2025
Lower · Passed
To Tax Policy: Finance Subcommittee
lower
Mar 11, 2025
Committee
Assigned to Revenue & Finance Committee
lower
Feb 18, 2025
Committee
Referred to Rules Committee
lower
1 primary · 6 co-sponsors
Sponsors
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