IL HB4950

Beginning with the fiscal year 2026 budget, appropriations from the State general funds cannot grow faster than the compound annual growth rate of Illinois gross domestic product over the preceding 10 calendar years.

The rate of growth calculation uses data from the United States Bureau of Economic Analysis or its successor agency, with data reported before December 31 immediately preceding the applicable fiscal year.

This spending growth cap applies only to appropriations from the State general funds and does not apply to capital development provisions of the State budget.

The bill amends the State Budget Law of the Civil Administrative Code (15 ILCS 20/50-5) to codify this new fiscal constraint.