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IL SB1863

Bill

Official Source

Status

Introduced

2/26/2021

Primary Sponsor

Jason Barickman

Click for details

Origin

Senate

102nd General Assembly

AI Summary

  • Beginning with fiscal year 2022 budgets, the rate of growth of general funds appropriations may not exceed the rate of growth of the Illinois economy.

  • "Rate of growth of the Illinois economy" is defined as the compound annual growth rate of gross domestic product in Illinois over the preceding 10 calendar years, using federal Bureau of Economic Analysis data available before December 31 immediately preceding the fiscal year.

  • The bill amends Section 50-5 of the State Budget Law of the Civil Administrative Code of Illinois.

  • The act takes effect immediately upon becoming law.

Legislative Description

STATE BUDGET-RATE OF GROWTH

Last Action

Rule 3-9(a) / Re-referred to Assignments

4/16/2021

Committee Referrals

Assignments4/16/2021
Appropriations3/16/2021
Assignments2/26/2021

Full Bill Text

No bill text available