02082017CM0383 RZVILLA PARK – A new Illinois law sponsored by State Senator Tom Cullerton (D-Villa Park) will mandate transparency and accuracy in the governor’s annual budget proposal.

The governor signed Cullerton’s House Bill 5814 on Friday, which will force all future governors’ offices to record late interest payments as a separate line item in agency appropriations.

The law will paint a clearer picture of the state’s financial standing and slow the depletion of funding needed to provide vital services to Illinois residents.

“All future governors will be forced to present realistic appropriations budgets in the future thanks to this bill,” Cullerton said. “We need to make sure governors, regardless of political party, do not attempt to hide behind phony numbers.”

Currently, most late payment interest penalties accrue at a rate of 12 percent per month for bills unpaid after 90 days, while health care bills accumulate interest at a rate of 9 percent after 30 days.

The interest penalties are paid from the same appropriation line, depleting the amount a state agency can spend for its operations. Cullerton’s measure forces the governor’s budget to include separate line item requests to for prompt pay interest payments.

The comptroller’s January 2018 Debt Transparency Report confirmed that taxpayers owe approximately $887 million in interest penalties despite paying out over $140 million in penalties in 2017.

“As legislators, we can’t negotiate a responsible budget when we don’t know how much money is owed or where it is going,” Cullerton said. “Utilizing responsible accounting practices in state government will allow the citizens of Illinois to know how and where their valuable tax dollars are spent.”

This bipartisan measure is an initiative of Comptroller Susana Mendoza and is supported by the Better Government Association.
House Bill 5814 passed the House and Senate with unanimous support and goes into effect on July 1, 2018.

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CONTACT SENATOR CULLERTON

Welcome to the official website of Senator Tom Cullerton. Please fill out our contact form to contact Senator Cullerton directly or you may call either of our offices. We look forward to hearing from you.

District Office
338 S. Ardmore Ave.
Villa Park, IL 60181
P: (630) 903-6662
F: (630) 903-6643

Springfield Office
122 Capitol Building
Springfield, IL 62706
P: (217) 782-9463