(a) On or before September 30, 1994, the Illinois Department shall submit to the General
Assembly an initial 2-year financial plan with respect to the Illinois Department's
administration and financing of the State's Medicaid program for fiscal years 1995
and 1996. The Illinois Department shall submit subsequent 2-year financial plans in accordance
with this Section. Beginning with fiscal year 1997, and every second fiscal year thereafter, the Illinois
Department shall submit a financial plan covering a period of 2 fiscal years not later
than March 1 before the commencement of the first fiscal year to which the financial
plan relates. Each financial plan shall be submitted in accordance with the procedures set forth
in this Section.
(b) Each financial plan for each fiscal year to which it relates shall contain a description
of revenues, liabilities, expenditures, appropriations, and cash resources and uses.
(c) The Illinois Department shall regularly reexamine the revenue and expenditure
estimates on which each financial plan was based and revise them as necessary. The Illinois Department shall promptly notify the General Assembly of any material
change in the revenue or expenditure estimates in the financial plan. The Illinois Department shall submit to the General Assembly modified financial
plans based on revised revenue or expenditure estimates or for any other good reason.
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