IL SB2273

Creates the Budget Economic Stabilization Fund Act to establish fiscal stabilization mechanisms, requiring annual reporting of unpaid bills by January 10th from the Comptroller and specified departments.

Requires the Governor to budget at least 50% of above-trend revenues (revenues exceeding 2.4% growth) to pay unpaid bills when they exceed $1 billion, with a goal of reducing bills to $1 billion or below.

Establishes the Budget Economic Stabilization Fund to receive at least 50% of above-trend revenues when unpaid bills are below $1 billion, capping the fund at 5% of projected general fund revenues.

Allows the Governor to withdraw from the stabilization fund during fiscal year emergencies (with 30-day notice) and permits the General Assembly to appropriate funds if revenue collections stagnate or decline for two consecutive quarters.

Creates the Bill Backlog Payment Fund to receive appropriations for paying accumulated unpaid vouchers and statutorily required transfers, with continuing appropriations authorized if enacted amounts prove insufficient.