IL SB2061

Amends the Commission on Government Forecasting and Accountability Act to require that total General Assembly appropriations for the next fiscal year shall not exceed the Commission's revenue estimate for that year.

Requires the Commission to publish a revenue estimate report at the convening of each regular legislative session and issue a revised estimate on the third Wednesday in March.

Mandates the House and Senate adopt or modify revenue estimates by joint resolution, which constitutes the General Assembly's official fund estimate under the Illinois Constitution.

Requires the Commission to issue estimated pension funding requirements under P.A. 86-273 and liabilities of the State employee group health insurance program on the third Wednesday in March.

Takes effect immediately upon becoming law.