Illinois 93rd Regular Session Status: Enacted

SB 867 — STATE COMPTROLLER-TECH

Last action — Public Act . . . . . . . . . 93-0660

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 19, 2003. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    0 primary, 1 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 3 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Amends the State Comptroller Act. Makes technical changes in a Section concerning the short title.

Bill Text

What changed in the latest version

126 added · 7 removed

Plain-language change summary

The latest version of SB 867 introduces the Budget Stabilization Act and establishes a Budget Stabilization Fund, which aims to help manage state finances by reducing tax increases and ensuring funds are available during revenue shortfalls. Additionally, it prioritizes funding for essential services like education and child care during financial transfers. This change is significant because it provides a structured approach to maintain financial stability and support for vulnerable populations, making it easier for the state to respond to fiscal challenges.

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SB867 Engrossed LRB093 02854 RCE 02870 b AN ACT in relation to the State Comptroller.
SB867 Enrolled LRB093 02854 RCE 02870 b AN ACT in relation to the State Comptroller.
Section 5.
Section 1.
The State Comptroller Act is amended by changing Section 1 as follows:
(15 ILCS 405/1) (from Ch.
15, par.
201) Sec.
1.
This Act s------------w------ may be cited as the "-State Comptroller Act"-.
This Act may be cited as the Budget Stabilization Act.
Section 5.
Budget Stabilization Fund.
The Budget Stabilization Fund is a special fund in the State treasury established for the purpose of reducing the need for future tax increases, maintaining the highest possible bond rating, reducing the need for short term borrowing, providing available resources to meet State obligations whenever casual deficits or failures in revenue occur, and providing the means of addressing budgetary shortfalls.
In authorizing transfers from the Budget Stabilization Fund, whenever possible, priority consideration should be given to meeting obligations for secondary and elementary education, child care, and other programs that may provide a direct benefit to children.
Section 10.
Budget limitations.
(a) In addition to Section 50-5 of the State Budget Law of the Civil Administrative Code of Illinois, the General Assembly's appropriations and transfers or diversions as required by law from general funds shall not exceed 99.5% of the estimated general funds revenues for the fiscal year when revenue estimates of the State's general funds revenues exceed the prior fiscal year's estimated general funds revenues by more than 4%.
(b) 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 SB867 Enrolled -2- LRB093 02854 RCE 02870 b fiscal year when revenue estimates of the State's general funds revenues exceed the prior fiscal year's estimated general funds revenues by more than 4% for 2 or more consecutive fiscal years.
(c) For the purpose of this Act, "estimated general funds revenues" include, for each budget year, all taxes, fees, and other revenues expected to be deposited into the State's general funds, including recurring transfers from other State funds into the general funds.
Year-over-year comparisons used to determine the percentage growth factor of estimated general funds revenues shall exclude the sum of the following:
(i) expected revenues resulting from new taxes or fees or from tax or fee increases during the first year of the change, (ii) expected revenues resulting from one-time receipts or non-recurring transfers in, (iii) expected proceeds resulting from borrowing, and (iv) increases in federal grants that must be completely appropriated based on the terms of the grants.
Section 15.
Transfers to Budget Stabilization Fund.
In furtherance of the State's objective for the Budget Stabilization Fund to have resources representing 5% of the State's annual general funds revenues:
(a) For each fiscal year when the General Assembly's appropriations and transfers or diversions as required by law from general funds do not exceed 99.5% of the estimated general funds revenues pursuant to subsection (a) of Section 10, the Comptroller shall transfer from the General Revenue Fund as provided by this Section a total amount equal to .5% of the estimated general funds revenues to the Budget Stabilization Fund.
(b) For each fiscal year when the General Assembly's appropriations and transfers or diversions as required by law from general funds do not exceed 99% of the estimated general SB867 Enrolled -3- LRB093 02854 RCE 02870 b funds revenues pursuant to subsection (b) of Section 10, the Comptroller shall transfer from the General Revenue Fund as provided by this Section a total amount equal to 1% of the estimated general funds revenues to the Budget Stabilization Fund.
(c) The Comptroller shall transfer 1/12 of the total amount to be transferred each fiscal year under this Section into the Budget Stabilization Fund on the first day of each month of that fiscal year or as soon thereafter as possible.
The balance of the Budget Stabilization Fund shall not exceed 5% of the total of general funds revenues estimated for that fiscal year except as provided by subsection (d) of this Section.
(d) If the balance of the Budget Stabilization Fund exceeds 5% of the total general funds revenues estimated for that fiscal year, the additional transfers are not required unless there are outstanding liabilities under Section 25 of the State Finance Act from prior fiscal years.
If there are such outstanding Section 25 liabilities, then the Comptroller shall continue to transfer 1/12 of the total amount identified for transfer to the Budget Stabilization Fund on the first day of each month of that fiscal year or as soon thereafter as possible to be reserved for those Section 25 liabilities.
Nothing in this Act prohibits the General Assembly from appropriating additional moneys into the Budget Stabilization Fund.
(e) On or before August 31 of each fiscal year, the amount determined to be transferred to the Budget Stabilization Fund shall be reconciled to actual general funds revenues for that fiscal year.
The final transfer for each fiscal year shall be adjusted so that the amount transferred is equal to the percentage specified in subsection (a) or (b) of Section 10 of this Act, as applicable, based on actual general funds revenues calculated SB867 Enrolled -4- LRB093 02854 RCE 02870 b consistently with subsection (c) of Section 10 of this Act for each fiscal year.
(f) For the fiscal year beginning July 1, 2006 and for each fiscal year thereafter, the budget proposal to the General Assembly shall identify liabilities incurred in a prior fiscal year under Section 25 of the State Finance Act and the budget proposal shall provide funding as allowable pursuant to subsection (d) of this Section, if applicable.
Section 90.
The State Finance Act is amended by changing Section 6z-51 as follows:
(30 ILCS 105/6z-51) Sec.
6z-51.
Budget Stabilization Fund.
(a) The Budget Stabilization Fund, a special fund in the State Treasury, shall consist of moneys appropriated or transferred to that Fund, as provided in Section 6z-43 and as otherwise provided by law.
_____________s_____________ _____l_____________________e______________________d_____________ _____ (b) The State Comptroller may direct the State Treasurer to transfer moneys from the Budget Stabilization Fund to the General Revenue Fund in order to meet _______l___ deficits resulting from timing variations between disbursements and the receipt of funds within a fiscal year.
Any moneys so borrowed shall be repaid by June 30 of the fiscal year in which they were borrowed.
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77-2807.)
92-11, eff.
6-11-01;
92-651, eff.
7-11-02.) Section 99.
Effective date.
This Act takes effect July 1, 2004.
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Action History

  1. Public Act . . . . . . . . . 93-0660

  2. Effective Date July 1, 2004

  3. Governor Approved

  4. Sent to the Governor

  5. Passed Both Houses

  6. House Floor Amendment No. 1 Senate Concurs 033-022-000

  7. House Floor Amendment No. 1 Motion to Concur Be Approved for Consideration State Government; 009-000-000; -Corrected Motion

  8. House Floor Amendment No. 1 Motion to Concur Rules Referred to State Government; -Corrected Motion

  9. House Floor Amendment No. 1 Motion to Concur Referred to Rules

  10. House Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Jeffrey M. Schoenberg; Corrected Motion

  11. House Floor Amendment No. 1 Motion to Concur Referred to Rules

  12. House Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Jeffrey M. Schoenberg

  13. Placed on Calendar Order of Concurrence House Amendment(s) 01-November 20, 2003

  14. Secretary's Desk - Concurrence House Amendment(s) 01

  15. Third Reading - Short Debate - Passed 111-001-001

  16. Placed on Calendar Order of 3rd Reading - Short Debate

  17. House Floor Amendment No. 1 Adopted by Voice Vote

  18. Second Reading - Short Debate

  19. Added Alternate Chief Co-Sponsor Rep. Jim Watson

  20. Added Alternate Chief Co-Sponsor Rep. Elaine Nekritz

  21. Added Alternate Chief Co-Sponsor Rep. Naomi D. Jakobsson

  22. Chief Sponsor Changed to Sen. Jeffrey M. Schoenberg

  23. Added as Chief Co-Sponsor Sen. Susan Garrett

  24. Added as Chief Co-Sponsor Sen. Edward D. Maloney

  25. Added as Chief Co-Sponsor Sen. Don Harmon

  26. House Floor Amendment No. 1 Recommends Be Adopted State Government Administration Committee; 011-000-000

  27. Added Alternate Chief Co-Sponsor Rep. Barbara Flynn Currie

  28. House Floor Amendment No. 1 Rules Refers to State Government Administration Committee

  29. House Floor Amendment No. 1 Referred to Rules Committee

  30. House Floor Amendment No. 1 Filed with Clerk by Rep. Michael J. Madigan

  31. Placed on Calendar 2nd Reading - Short Debate

  32. Approved for Consideration Rules Committee; 004-000-000

  33. Rule 19(a) / Re-referred to Rules Committee

  34. Held on Calendar Order of Second Reading - Short Debate **

  35. Second Reading - Short Debate

  36. Placed on Calendar 2nd Reading - Short Debate **

  37. Do Pass / Short Debate Executive Committee; 007-005-000

  38. Committee/3rd Reading Deadline Extended-Rule 9(b); May 31, 2003

  39. Assigned to Executive Committee

  40. Rule 19(a) / Re-referred to Rules Committee

  41. Assigned to Executive Committee

  42. Referred to Rules Committee

  43. First Reading

  44. Chief House Sponsor Rep. Michael J. Madigan

  45. Placed on Calendar Order of First Reading

  46. Arrived in House

  47. Third Reading - Passed; 032-016-002

  48. Verified

  49. Placed on Calendar Order of 3rd Reading ** March 19, 2003

  50. Second Reading

  51. Placed on Calendar Order of 2nd Reading March 18, 2003

  52. Do Pass Executive; 008-005-000

  53. Assigned to Executive

  54. Referred to Rules

  55. First Reading

  56. Chief Co-Sponsor Sen. Emil Jones, Jr.

  57. Filed with Secretary by Sen. Ira I. Silverstein

Sponsors

  • Jeffrey M. Schoenberg · Cosponsor

Sponsorship breakdown

Export CSV (upgrade) →

0 sponsors · 1 co-sponsors · 182 not signed on · 1 voted No

Sponsors (0)

None.

Co-sponsors (1)

  • Jeffrey M. Schoenberg

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Concurrence, Amendment 1

Passed 33 Yea · 22 Nay · 4 Other
Party YeaNayPresentNot Voting
Unaffiliated 262104
Democrat 7000
Republican 0100
Total 332204
% of votes cast 56%37%0%7%
How each member voted (59)
Member Party Vote
Sandoval — Yea
Soden — Nay
Link — Yea
Maloney — Yea
Althoff — Nay
Martinez — Yea
Bomke — Nay
Burzynski — Not Voting
DeLeo — Yea
Garrett — Yea
Halvorson — Yea
Hendon — Yea
Meeks — Yea
Obama — Yea
Munoz — Yea
Sullivan, D. — Yea
Sullivan, J. — Yea
Peterson — Nay
Schoenberg — Yea
Shadid — Yea
Jacobs — Yea
Sieben — Nay
Cullerton — Yea
Silverstein — Yea
Demuzio — Yea
Viverito — Yea
Brady — Nay
Petka — Nay
Jones, J. — Nay
Jones, W. — Nay
Watson — Nay
Clayborne — Yea
Crotty — Yea
Forby — Yea
Geo-Karis — Nay
Haine — Yea
Lauzen — Nay
Luechtefeld — Nay
Trotter — Not Voting
Winkel — Nay
Wojcik — Not Voting
Cronin — Not Voting
Dillard — Nay
Radogno — Nay
Rauschenberger — Nay
Righter — Nay
Risinger — Nay
Ronen — Yea
Roskam — Nay
Rutherford — Nay
del Valle — Yea
Don Harmon Democrat Yea
Emanuel "Chris" Welch Democrat Yea
Emil Jones, III Democrat Yea
Kimberly A. Lightford Democrat Yea
Lakesia Collins Democrat Yea
Lawrence "Larry" Walsh, Jr. Democrat Yea
Mattie Hunter Democrat Yea
Dave Syverson Republican Nay

Official roll call →

Third Reading

Passed 111 Yea · 1 Nay · 5 Other
Party YeaNayPresentNot Voting
Unaffiliated 100104
Democrat 8001
Republican 3000
Total 111105
% of votes cast 95%1%0%4%
How each member voted (117)
Member Party Vote
Saviano — Yea
Scully — Yea
Slone — Yea
Sommer — Yea
Soto — Yea
Lang — Yea
Acevedo — Yea
Aguilar — Yea
Mathias — Yea
Bassi — Yea
Beaubien — Yea
Bellock — Yea
Berrios — Yea
Mautino — Yea
Biggins — Not Voting
Black — Yea
Boland — Yea
May — Yea
Bost — Yea
Brauer — Yea
Brosnahan — Yea
Capparelli — Yea
Mendoza — Yea
Coulson — Yea
Molaro — Yea
Munson — Not Voting
Granberg — Yea
Hassert — Yea
Hultgren — Yea
Jefferson — Yea
Novak — Yea
Osterman — Yea
Leitch — Yea
Lindner — Yea
McAuliffe — Yea
McCarthy — Yea
Pankau — Yea
Pihos — Yea
Bailey — Yea
Lyons, Eileen — Yea
Lyons, Joseph — Yea
Reitz — Yea
McGuire — Yea
Dunkin — Yea
Dunn — Yea
Eddy — Yea
Flider — Yea
Flowers — Yea
Franks — Yea
Fritchey — Yea
Froehlich — Yea
Giles — Yea
Krause — Yea
Bradley, John — Yea
Kurtz — Yea
Bradley, Richard — Yea
Madigan — Yea
Brady — Yea
McKeon — Yea
Meyer — Yea
Hannig — Yea
Millner — Yea
Mitchell, Bill — Yea
Moffitt — Yea
Burke — Yea
Mitchell, Jerry — Yea
Morrow — Yea
Mulligan — Yea
Sullivan — Yea
Myers — Yea
Nekritz — Yea
Howard — Yea
O'Brien — Yea
Osmond — Yea
Parke — Nay
Schmitz — Not Voting
Jones — Yea
Tenhouse — Yea
Watson — Yea
Turner — Yea
Verschoore — Yea
Wait — Yea
Davis, Monique — Yea
Davis, Steve — Yea
Washington — Yea
Churchill — Yea
Colvin — Yea
Cross — Yea
Cultra — Yea
Currie — Yea
Daniels — Yea
Graham — Yea
Grunloh — Yea
Hamos — Yea
Holbrook — Yea
Jakobsson — Yea
Kosel — Yea
Winters — Not Voting
Yarbrough — Yea
Younge — Yea
Phelps — Yea
Poe — Yea
Ryg — Yea
Sacia — Yea
Chapa LaVia — Yea
Eva-Dina Delgado Democrat Yea
Jay Hoffman Democrat Yea
Lakesia Collins Democrat Not Voting
Michael J. Kelly Democrat Yea
Nicholas K. Smith Democrat Yea
Patrick J. Joyce Democrat Yea
Robert "Bob" Rita Democrat Yea
Sara Feigenholtz Democrat Yea
William "Will" Davis Democrat Yea
Brad Stephens Republican Yea
Chapin Rose Republican Yea
Chris Miller Republican Yea

Official roll call →

Third Reading

Passed 32 Yea · 16 Nay · 11 Other
Party YeaNayPresentNot Voting
Unaffiliated 2515011
Democrat 7000
Republican 0100
Total 3216011
% of votes cast 54%27%0%19%
How each member voted (59)
Member Party Vote
Sandoval — Yea
Silverstein — Yea
Althoff — Nay
Martinez — Yea
Bomke — Not Voting
Burzynski — Not Voting
Cronin — Nay
Garrett — Yea
Halvorson — Yea
Obama — Yea
Munoz — Yea
Haine — Yea
Lauzen — Nay
Link — Yea
Luechtefeld — Nay
Maloney — Yea
Jacobs — Yea
Meeks — Yea
Cullerton — Yea
Demuzio — Yea
Sullivan, J. — Nay
Jones, J. — Nay
Schoenberg — Yea
Jones, W. — Nay
Watson — Nay
Shadid — Yea
Petka — Not Voting
Sieben — Not Voting
Sullivan, D. — Not Voting
Brady — Not Voting
Trotter — Yea
Viverito — Yea
Winkel — Not Voting
Clayborne — Yea
Crotty — Yea
DeLeo — Yea
Dillard — Nay
Geo-Karis — Not Voting
Hendon — Yea
Wojcik — Not Voting
Woolard — Yea
Peterson — Not Voting
Philip — Nay
Radogno — Nay
Rauschenberger — Nay
Righter — Nay
Risinger — Not Voting
Ronen — Yea
Roskam — Nay
Rutherford — Nay
del Valle — Yea
Don Harmon Democrat Yea
Emanuel "Chris" Welch Democrat Yea
Emil Jones, III Democrat Yea
Kimberly A. Lightford Democrat Yea
Lakesia Collins Democrat Yea
Lawrence "Larry" Walsh, Jr. Democrat Yea
Mattie Hunter Democrat Yea
Dave Syverson Republican Nay

Official roll call →

Subjects

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Frequently asked questions

What does SB 867 do?
Amends the State Comptroller Act. Makes technical changes in a Section concerning the short title.
Who sponsors SB 867?
SB 867 is sponsored by Jeffrey M. Schoenberg.
What is the current status of SB 867?
This bill has been enacted into law. Introduced February 19, 2003. Enacted.
Where can I track SB 867?
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