LONG-TERM ACCOUNTING ACT Senate SponsorsSen. Jil Tracy 1/13/2021SenateSession Sine Die New Act15 ILCS 405/6.01from Ch. 15, par. 206.0125 ILCS 155/4from Ch. 63, par. 344Creates the Long-Term Accounting Act. Provides that the purpose of the Act is to improve transparency and accountability during the State budget process. Contains provisions concerning the passage of appropriation bills and the electronic publication of appropriation bills. Amends the State Comptroller Act. Provides that accounting standards and principles established by the Comptroller shall be compatible with generally accepted accounting standards and principles for government as prescribed by the Governmental Accounting Standards Board. Amends the Commission on Government Forecasting and Accountability Act. Provides that the Commission on Government Forecasting and Accountability must publish fiscal budget statements. Sets forth the requirements for the fiscal budget statements. Contains other provisions. Effective immediately. 2/15/2019SenateFiled with Secretary by Sen. Jil Tracy 2/15/2019SenateFirst Reading 2/15/2019SenateReferred to Assignments 2/27/2019SenateAssigned to Appropriations I 3/22/2019SenateRule 3-9(a) / Re-referred to Assignments 1/13/2021SenateSession Sine Die