IL HB5124

Amends the State Finance Act by adding Section 50 to establish spending limits on state programs beginning in fiscal year 2013.

Caps total appropriations, transfers, or expenditures for any state program at the previous fiscal year's amount adjusted upward only by the Consumer Price Index increase for the prior 12-month period.

Uses the Consumer Price Index for all Urban Consumers published by the U.S. Department of Labor as the measure for allowable annual spending increases.

Takes effect immediately upon becoming law.