IL SB3397

Amends the State Finance Act Section 25 regarding fiscal year limitations on appropriations and payment of outstanding liabilities across multiple state departments and programs.

Establishes aggregate caps on payments made without regard to fiscal year limitations, ranging from $6 billion for fiscal year 2012 down to $0 for fiscal year 2021 and thereafter.

Extends the lapse period for Department of Healthcare and Family Services Medical Assistance payments from 4 months to 6 months (through December 31) for bills received and recorded by June 30.

Limits unpaid Medical Assistance bills that may be paid from future fiscal year appropriations to $700 million for fiscal year 2013 and $100 million for fiscal year 2014 and each subsequent year.

Takes effect July 1, 2012, contingent upon passage of House Bill 5007 and Senate Bill 2840 of the 97th General Assembly.