2005 Illinois Code - Chapter 25 Legislature 25 ILCS 155/ Commission on Government Forecasting and Accountability Act.
(25 ILCS 155/1) (from Ch. 63, par. 341)
Sec. 1.
It is the continuing policy of the State in meeting the public needs to
establish program priorities and to coordinate available resources to the
end that the maximum benefits be produced efficiently and economically in a
manner designed to encourage a strong, free enterprise economy in the
State. To carry out this policy effectively, it is essential that the
General Assembly be furnished with the most reliable and authoritative
information available concerning economic developments and trends in this
State and the operations of State Government.
(Source: P. A. 77‑2054.)
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(25 ILCS 155/2) (from Ch. 63, par. 342)
Sec. 2. The Commission on Government Forecasting and Accountability, hereafter in this
Act referred to as the Commission, is created and is established as a
legislative support services agency subject to the Legislative Commission
Reorganization Act of 1984.
On the effective date of this amendatory Act of
the 93th General Assembly, the name of the Illinois Economic and Fiscal Commission is changed to
the Commission on Government Forecasting and Accountability. References in any law,
appropriation, rule, form, or other document to the Illinois Economic and Fiscal Commission are deemed, in appropriate contexts, to be references to the Commission on Government Forecasting and Accountability for all purposes. References in any law,
appropriation, rule, form, or other document to the Executive Director of
the Illinois Economic and Fiscal Commission are deemed, in appropriate contexts, to be references
to the Executive Director of the Commission on Government Forecasting and Accountability for all
purposes. For purposes of Section 9b of the State Finance Act, the Commission on Government Forecasting and Accountability is the successor to the Illinois Economic and Fiscal Commission.
(Source: P.A. 93‑1067, eff. 1‑15‑05.)
(25 ILCS 155/3) (from Ch. 63, par. 343)
Sec. 3. The Commission shall:
(1) Study from time to time and report to the General Assembly on
economic development and trends in the State.
(2) Make such special economic and fiscal studies as it deems
appropriate or desirable or as the General Assembly may request.
(3) Based on its studies, recommend such State fiscal and economic
policies as it deems appropriate or desirable to improve the functioning
of State government and the economy of the various regions within the
State.
(4) Prepare annually a State economic report.
(5) Provide information for all appropriate legislative
organizations and personnel on economic trends in relation to long range
planning and budgeting.
(6) Study and make such recommendations as it deems appropriate to
the General Assembly on local and regional economic and fiscal policy
and on federal fiscal policy as it may affect Illinois.
(7) Review capital expenditures, appropriations and authorizations
for both the State's general obligation and revenue bonding authorities.
At the direction of the Commission, specific reviews may include
economic feasibility reviews of existing or proposed revenue bond
projects to determine the accuracy of the original estimate of useful
life of the projects, maintenance requirements and ability to meet debt
service requirements through their operating expenses.
(8) Receive and review all executive agency and revenue bonding
authority annual and 3 year plans. The Commission shall prepare a
consolidated review of these plans, an updated assessment of current
State agency capital plans, a report on the outstanding and unissued
bond authorizations, an evaluation of the State's ability to market
further bond issues and shall submit them as the "Legislative Capital
Plan Analysis" to the House and Senate Appropriations Committees at
least once a year. The Commission shall annually submit to the General
Assembly on the first Wednesday of April a report on the State's long‑term
capital needs, with particular emphasis upon and detail of the 5‑year
period in the immediate future.
(9) Study and make recommendations it deems appropriate to the
General Assembly on State bond financing, bondability guidelines, and
debt management. At the direction of the Commission, specific studies
and reviews may take into consideration short and long‑run implications
of State bonding and debt management policy.
(10) Comply with the provisions of the "State Debt
Impact Note Act" as now or hereafter amended.
(11) Comply with the provisions of the Pension Impact Note Act, as now
or hereafter amended.
(12) By August 1st of each year, the Commission must prepare and cause to
be published a summary report of State appropriations for the State fiscal year
beginning the previous July 1st. The summary report must discuss major
categories of appropriations, the issues the General Assembly faced in
allocating appropriations, comparisons with appropriations for previous
State fiscal years, and other matters helpful in providing the citizens of
Illinois with an overall understanding of appropriations for that fiscal year.
The summary report must be written in plain language and designed for
readability. Publication must be in newspapers of general circulation in the
various areas of the State to ensure distribution statewide. The summary
report must also be published on the General Assembly's web site.
(13) Comply with the provisions of the State Facilities Closure Act.
The requirement for reporting to the General Assembly shall be satisfied
by filing copies of the report with the Speaker, the Minority Leader and
the Clerk of the House of Representatives and the President, the Minority
Leader and the Secretary of the Senate and the Legislative
Research
Unit, as required by Section 3.1 of the General Assembly
Organization Act, and
filing such additional copies with the State Government Report Distribution
Center for the General Assembly as is required under paragraph (t) of
Section 7 of the State Library Act.
(Source: P.A. 92‑67, eff. 7‑12‑01; 93‑632, eff. 2‑1‑04; 93‑839, eff. 7‑30‑04.)
(25 ILCS 155/4) (from Ch. 63, par. 344)
Sec. 4. (a) The Commission shall publish, at the convening of each regular
session of the General Assembly, a report on the estimated income of the
State from all applicable revenue sources for the next ensuing fiscal
year and of any other funds estimated to be available for such fiscal
year. On the third Wednesday in March after the session convenes, the
Commission shall issue a revised and updated set of revenue figures
reflecting the latest available information. The House and Senate by
joint resolution shall adopt or modify such estimates as may be
appropriate. The joint resolution shall constitute the General
Assembly's estimate, under paragraph (b) of Section 2 of Article VIII of
the Constitution, of the funds estimated to be available during the next
fiscal year.
(b) On the third Wednesday in March, the Commission shall issue estimated:
(1) pension funding requirements under P.A. 86‑273; |
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(2) liabilities of the State employee group health
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These estimated costs shall be for the fiscal year beginning the following
July 1.
(c) The requirement for reporting to the General Assembly shall be satisfied
by filing copies of the report with the Speaker, the Minority Leader and
the Clerk of the House of Representatives and the President, the Minority
Leader and the Secretary of the Senate and the Legislative
Research
unit, as required by Section 3.1 of the General Assembly
Organization Act, and filing
such
additional copies with the State Government Report Distribution Center for the
General Assembly as is required under paragraph (t) of Section 7 of the State
Library Act.
(Source: P.A. 93‑632, eff. 2‑1‑04.)
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(25 ILCS 155/6) (from Ch. 63, par. 346)
Sec. 6.
All State officers and agencies shall render to the Commission any
assistance that may be required by the Commission for the purpose of
preparing its reports and recommendations.
The Commission shall, to the fullest extent possible, utilize the
services, facilities and information, including statistical information, of
other government agencies and of private research agencies in order to
avoid duplication of effort and expense.
(Source: P. A. 77‑2054.)
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(25 ILCS 155/6.1) (from Ch. 63, par. 346.1)
Sec. 6.1.
In addition to its other responsibilities, the Commission
shall exercise the powers and duties delegated to the State Employees'
Group Insurance Advisory Commission prior to the effective date of this Act
under the "State Employees Group Insurance Act of 1971".
(Source: P.A. 83‑1257.)
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(25 ILCS 155/6.2) (from Ch. 63, par. 346.2)
Sec. 6.2. Short title. This Act may be cited as
the Commission on Government Forecasting and Accountability Act.
(Source: P.A. 93‑632, eff. 2‑1‑04; 93‑1067, eff. 1‑15‑05.)
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