IL - HJRCA 27Primary Sponsor:
Jaime M. Andrade, Jr. (D)
Amends the balanced budget requirement in the Illinois Constitution.
Requires end-of-year budgetary balance between revenues and expenditures, rather than simply requiring prospective balance in the planning stage.
Clarifies that new debt, refinancing and fund sweeps are not revenue.
Provides that any debt issuance to pay for government operations shall be repaid within the fiscal year it was issued.
Filed with Clerk