Illinois SB1546 sets a cap on the growth of state appropriations based on the state's economic growth.
Illinois SB1546 amends the State Budget Law to limit the growth of appropriations from the State general funds to the rate of growth of the Illinois economy, starting from Fiscal Year 2027. The Illinois economy's growth rate is defined as the compound annual growth rate of the state's gross domestic product over the preceding 10 calendar years, using data from the U.S. Bureau of Economic Analysis. This provision applies to all executive branch state agencies, ensuring that budget proposals and appropriations align with the state's economic performance.
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- Core Provisions
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- Legal Framework
- Critical Issues
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