The Illinois General Assembly concluded the spring 2023 legislative session on Saturday, May 27th. They worked past the scheduled adjournment date of May 19th but wrapped up before the traditional May 31st deadline. The fall veto session will convene on October 24-26 and November 7-9. In total, more than 6,500 bills were introduced this year, 4,498 House bills and 2,985 Senate bills – 565 bills were approved by both chambers that will be sent to Governor Pritzker for approval. The legislature has 30 days to present a bill to the Governor, and the Governor has 60 days after receiving the bill to sign, veto or issue an amendatory veto.
The Illinois General Assembly approved a budget for FY 24 that appropriates $50.6 billion in general revenue funds and $4 billion in new capital appropriations. In addition, lawmakers voted to expand the state’s bonding authority. The additional bonding will cover capital projects and infrastructure investments. Lead budget negotiators for the super-majority Democrats describe the FY 24 spending plan as balanced and fiscally responsible; while Republicans in both chambers were critical of the plan and did not vote in favor of it. Despite objections from their Republican colleagues, the super-majority Democrats approved SB 250 (FY 24 budget) and HB 3817 (FY 24 budget implementation bill) which will soon head to Governor Pritzker’s desk for approval.
The FY 24 spending plan includes a $250 million investment into early childhood education, provides additional MAP grant funding for community college students, invests in business development, and makes full payments to the state’s required debt obligations, including pensions and the remaining back logged bills.
To read the full IMSCA Report, please click the link below.