HB 5851

Abstract

Amends the State Budget Law of the Civil Administrative Code of Illinois. Provides that "State general funds" include the Pension Stabilization Fund. Amends the Balanced Budget Note Act. Specifies that general funds include, for purposes of that Act, the Pension Stabilization Fund. Amends the State Finance Act. Provides that, for Fiscal Year 2024 and subsequent fiscal years, certain funds transferred in Budget Stabilization Fund may be transferred to the General Revenue Fund to address outstanding vouchers and shall not be subject to repayment into the Budget Stabilization Fund if the bill backlog as determined by the Comptroller on June 30 of that fiscal year exceeds $4,000,000,000. Provides that monthly reports submitted by the Department on Aging, the Department of Healthcare and Family Services, the Department of Human Services, the Department of Central Management Services, and the Department of Revenue shall also include certain supplemental information. Amends the Budget Stabilization Act. Modifies provisions concerning requirements for and transfers into the Budget Stabilization Fund and the Pension Stabilization Fund based on the State's accounts payable. Makes other changes. Establishes limits on amounts that may be transferred and appropriated from general funds. Effective immediately.