SPENDING LIMITATION ACT Senate SponsorsSen. Chris Lauzen 1/8/2013SenateSession Sine Die New Act30 ILCS 105/5.780 newCreates the Taxpayer Bill of Rights Spending Limitation Act. Establishes fiscal year spending limits based on inflation and population changes. Creates an Emergency Reserve Cash Fund, requires transfers to the Fund based on revenues limits, and requires expenditures only for emergencies and from appropriations adopted by a two-thirds vote of the House and Senate. Allows transfer of excess amounts in the Fund. Amends the State Finance Act to create the Fund. Effective immediately. 2/8/2011SenateFiled with Secretary by Sen. Chris Lauzen 2/8/2011SenateFirst Reading 2/8/2011SenateReferred to Assignments 2/23/2011SenateAssigned to Executive 3/3/2011SenateTo Executive Subcommittee on State Government Operations; /3-14-2011 - Postponed 3/17/2011SenatePostponed - Executive 3/18/2011SenateRule 3-9(a) / Re-referred to Assignments 1/8/2013SenateSession Sine Die