IL SB1517

Amends the State Budget Law to allow the Governor to submit the State budget on either the third Wednesday in February or the date of the Governor's Budget Address, whichever occurs first (previously required submission only on the third Wednesday in February).

Requires the Governor to submit the State budget along with all proposed appropriation and budget implementation legislation to the General Assembly.

Maintains existing requirements that revenue estimates be based solely on revenue sources, rates, and levels that exist as of the budget submission date or have been passed by the General Assembly for that fiscal year.

Preserves provisions requiring the Governor to distribute quarterly financial reports to the General Assembly and State Comptroller within 45 days after each quarter ends, posted on the Governor's Office of Management and Budget website.