Bill Title: Amends the State Budget Law of the Civil Administrative Code. Provides that, beginning with the budget prepared for fiscal year 2026, the rate of growth of appropriations from the State general funds over the preceding fiscal year appropriations from the State general funds shall not exceed the rate of growth of the Illinois economy. Provides that "rate of growth of the Illinois economy" means the compound annual growth rate of the gross domestic product in the State over the preceding 10 calendar years, calculated using data reported by the United States Bureau of Economic Analysis or its successor agency before December 31 immediately preceding the beginning of the applicable fiscal year.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2024-02-07 - Referred to Rules Committee [HB4950 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2024-02-07	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB4950

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB4950 currently on file.

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