IL HR0112

Illinois will complete a budget through 2018 based on existing revenue sources and include immediate pension reform.

Illinois will develop a plan to pay off unpaid state bills through revenue bonds or the sale of state assets.

Illinois will conduct a thorough discussion about reforms to state and local government operations as part of any discussion about additional funding sources for the general revenue fund.

Resolution expresses concern that Illinois has operated without a constitutional balanced budget for over 18 months and without any stopgap budget since January 1, 2017.

Fitch Ratings lowered Illinois' credit rating to BBB with negative outlook on February 1, 2017, one step above the lowest investment-grade rating.