Sen. Tom CullertonSPRINGFIELD- To promote government transparency and accountability, State Senator Tom Cullerton (D-Villa Park) championed the passage of the Illinois Debt Transparency Act.

Cullerton joined the Illinois Senate in voting to override Governor Rauner’s veto of House Bill 3649, which requires state agencies to provide a more accurate accounting of bills and late payment interest penalties accruing.

“Illinois taxpayers deserve to know how their money is spent,” Cullerton said. “This measure encourages responsible budgeting and the honest use of taxpayer dollars. I’m glad the Illinois Senate worked together in a bipartisan manner to take the necessary steps to promote a fiscally-sound budget. ”

Currently, state law requires that on October 1 agencies report the annual aggregate amount of pending unpaid bills that were being held as of June 30. The comptroller’s office then publishes the outdated information on their website.

This new law will now require state agencies to report the amount of unpaid bills, whether that amount was appropriated or not and an estimate of interest penalties accumulated on a monthly basis.

“This new law will promote help promote fiscal responsibility,” Cullerton said. “Good government begins with accountability and transparency. State officials and agencies have an obligation to be transparent and open with the way we spend valuable state dollars.”

Cullerton believes real-time accounting will help the state’s financial officers as well the General Assembly have a realistic outlook on state finances when making budgetary decisions.

Category: Press Releases