IL HB5376

Amends the State Finance Act to authorize appropriations from the Budget Stabilization Fund under three circumstances: (1) declared disasters or emergencies requiring government action to protect life or public safety with majority vote of both houses; (2) fiscal years with employment growth forecast below 1% with majority vote of both houses; (3) any amount with three-fifths vote of both houses.

Modifies Section 6z-51 to require affirmative vote of a simple majority of members in each house of the General Assembly before the State Comptroller can transfer moneys from the Budget Stabilization Fund to the General Revenue Fund for cash flow deficits.

Establishes monthly transfers of $3,750,000 from the General Revenue Fund to the Budget Stabilization Fund beginning July 1, 2023.

Eliminates prior temporary provisions from Fiscal Year 2017 and Fiscal Years 2020-2022 related to expenditures and cannabis tax transfers from the Budget Stabilization Fund.

Takes effect immediately upon enactment.