CONAMEND-BALANCED BUDGET

Proposes to amend the Finance Article of the Illinois Constitution relating to balanced budgets. Provides that the State budget shall be based on estimated revenue (now funds), defines "revenue". Provides that, except for deficiency or emergency appropriations, appropriations are expendable only during the fiscal year for which they were appropriated. Provides that the General Assembly by law may establish an extended period to pay lapsed appropriations, not to exceed six months beyond the end of the fiscal year. Provides that the Comptroller must independently certify the estimated revenue for the fiscal year. Provides that no budget shall become law without the Comptroller's independent certification that the planned expenditures are less than or equal to the revenue estimates for the ensuing fiscal year.