By Jamey Dunn
The Illinois House today voted without opposition to approve a “conservative” estimate of revenues for the next fiscal year.
House Resolution 110 caps the estimated revenue for fiscal year 2012 at $33.2 billion — a projection that is less than estimates from Gov. Pat Quinn, as well as the legislature’s Commission on Government Forecasting and Accountability. Rep. John Bradley, a Marion Democrat, said he planned to meet with the heads of appropriations committees this afternoon to begin negotiating the best way to dole out the money to different areas of state government. For more information on the resolution, see Illinois Issues blog March 3.)
Bradley said if any unexpected or new revenues come in, the House would have to determine how to appropriate them at that time. Under the resolution, the House cannot exceed the projection in its spending proposal. Bradley said it would be fair to view the resolution as a spending cap. “This is how much money we have. ... So this is how much money we can spend at this point,” Bradley said.