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General Funds Revenue Estimates for FY 2012

The Illinois State Constitution requires adoption of a balanced budget: “Appropriations for a fiscal year shall not exceed funds estimated by the General Assembly to be available during that year.” For many years, however, the legislature has passed appropriations bills without addressing the revenue side of the budget. The House of Representatives has adopted a new process for FY 2012 that could lead to enactment of an actual state budget, including both revenue and spending determinations. The Committee on Revenue and Finance recently approved a set of General Funds revenue estimates (House Resolution 110), which was subsequently approved unanimously by the full House. The House Revenue Committee will now consider another resolution (HR156), which will allocate a share of available resources to each of five appropriations committees: elementary and secondary education, higher education, human services, public safety, and general services. Download and read report

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