IL SB1981

Governor must submit State budget by third Wednesday in February each year (with specific dates set for 2010-2014), including recommended appropriations and estimated revenues from all sources.

Revenue estimates for fiscal year 2012 forward must be based only on existing revenue sources, rates, and levels as of budget submission date, plus any newly enacted legislation authorized to take effect that fiscal year.

Governor must distribute quarterly financial reports within 45 days of each quarter's end to the General Assembly and State Comptroller, posted on the Governor's Office of Management and Budget website, including revenue, expenditure, and surplus/deficit calculations.

Governor's Office of Management and Budget must submit a report by third Wednesday of February containing actual or projected fund balances, revenues, and expenditures for all appropriated funds for the previous, current, and upcoming fiscal years.

Beginning with fiscal year 2013 budgets, all executive branch State agencies must use zero-based budgeting where each priority is justified annually on merit rather than on the prior year's appropriation amount.