summary
Introduced
02/07/2025
02/07/2025
In Committee
03/04/2026
03/04/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the State Budget Law of the Civil Administrative Code of Illinois and the Balanced Budget Note Act. Provides that the Pension Stabilization Fund is considered a general fund or a State general fund for the purposes of those Acts. Amends the State Finance Act. Provides that certain amounts transferred from the Budget Stabilization Fund to the General Revenue Fund are not required to be repaid into the Budget Stabilization Fund if the amount of accounts payable exceeds $4,000,000,000. Makes changes concerning monthly reports from State agencies to the Comptroller. Amends the Budget Stabilization Act. Provides that, beginning in Fiscal Year 2027, the General Assembly's appropriations and transfers or diversions as required by law from general funds shall not exceed 99% of the estimated general funds revenues for the fiscal year if (i) revenue estimates of the State's general funds revenues for the fiscal year exceed the prior fiscal year's estimated general funds revenues by more than 4% and (ii) projected accounts payable are estimated by the Comptroller to be less than $3,000,000,000 for the fiscal year. Makes other changes concerning transfers from the Budget Stabilization Fund. Effective immediately.
AI Summary
This bill makes several changes to Illinois state financial management laws, primarily focusing on the Budget Stabilization Fund and the Pension Stabilization Fund. Starting in Fiscal Year 2027, the bill establishes new conditions for how the state can appropriate general funds: if estimated revenue exceeds the previous year's estimate by more than 4% and projected accounts payable are less than $3 billion, the General Assembly can only appropriate 99% of estimated revenues. The bill also modifies the Pension Stabilization Fund by including it in the definition of general funds and adjusting transfer requirements. Additionally, the legislation requires certain state agencies to provide more detailed monthly reports about potential future invoices and liabilities, including estimated tax overpayments and insufficient funding for various accounts. The bill aims to improve the state's fiscal transparency, create more disciplined budgeting practices, and ensure better management of state funds by establishing clearer guidelines for fund transfers and appropriations.
Committee Categories
Budget and Finance
Sponsors (8)
Natalie Manley (D)*,
Jaime Andrade (D),
Dee Avelar (D),
Dan Didech (D),
Edgar González (D),
Lisa Hernandez (D),
Norma Hernandez (D),
Rita Mayfield (D),
Last Action
Assigned to Revenue & Finance Committee (on 03/04/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3436&GAID=18&DocTypeID=HB&SessionID=114&GA=104 |
| BillText | https://www.ilga.gov/legislation/104/HB/10400HB3436.htm |
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