IL HB2515

Designates the Pension Stabilization Fund as a general fund for purposes of identifying supplemental appropriation bills under the Balanced Budget Note Act and State Budget Law.

Requires monthly reporting by Department on Aging, Department of Healthcare and Family Services, Department of Human Services, Department of Central Management Services, and Department of Revenue to include supplemental information about invoices and outstanding liabilities starting in January 2024.

Modifies Budget Stabilization Fund provisions beginning Fiscal Year 2025 to allow transfers for addressing outstanding vouchers when accounts payable exceed $4,000,000,000 without requiring repayment.

Changes spending limits on general funds appropriations beginning Fiscal Year 2025 to trigger the 99% cap only when both revenue growth exceeds 4% and projected accounts payable are estimated below $3,000,000,000.

Halts transfers to the Budget Stabilization Fund beginning Fiscal Year 2025 once the fund reaches 7.5% of prior year general funds revenues and redirects additional transfers to the Pension Stabilization Fund when both conditions are met.