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In mid-August, Governor Rauner vetoed House Bill 3649, the Debt Transparency Act. HB3649 was sponsored by state Rep. Fred Crespo and state Sen. Andy Manar, with the support of comptroller Susana Mendoza. The bill would require all state agencies to report to the comptroller the dollar amount of any bills they receive and to indicate whether funding has been committed to pay off the obligations. Unlike current practice, legislation requires reporting of due bills be done on a monthly basis. If an agency does not have any financial obligations, the comptroller can waive its reporting requirement.
The BGA supports an override of the governor’s veto of HB3649 and supported passage of the bill before the veto. An override vote is expected Wednesday in Springfield. The proposal passed out of the Illinois Senate and House with bipartisan support from Republicans and Democrats. HB3649 would boost transparency and provide taxpayers with a clearer, more accurate and current assessment of our debt and other financial obligations.
In a letter to the Legislature, Comptroller Mendoza said, “Working families, small businesses, and Fortune 500 companies alike plan carefully as to how they are going to meet their financial obligations and pay their bills. Our state government should be no different.”
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