IL SB2585

Changes the deadline for the Governor's Office of Management and Budget's annual economic and fiscal policy report from the 3rd business day in January to November 15 of each year.

Extends the fiscal planning horizon from 2 years to 4 years in the economic and fiscal policy report.

Requires the report to include assumptions concerning tax rates and fees used to determine revenue and expenditures for future fiscal years.

Mandates the report compare the enacted current fiscal year budget to the current fiscal year outlook and outline any budgetary shortfalls with proposed fiscal and policy remedies.

Requires the report to include an agency categorization key for reporting categories and be posted on the Office's website with public comment capability.