CONAMEND-LIMIT APPROP/TRANSFER

Proposes to amend the Finance Article of the Illinois Constitution. Beginning in Fiscal Year 2014, limits aggregate appropriations and transfers from the State's general funds in a fiscal year to the aggregate appropriations and transfers in the previous fiscal year, as adjusted by the 5-year average annual change in per capita personal income. Allows the Governor to declare a fiscal emergency. If the Comptroller and Treasurer concur in the Governor's declaration, then the General Assembly, by a three-fifths vote, may authorize appropriations and transfers by law that exceed the limitation. Requires excess revenues to be deposited into budget stabilization funds, and allows certain excess funds to be refunded. Effective upon being declared adopted.