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Defense Offered for Illinois Pension Reforms
The Bond BuyerLink to more items from this source
Dec. 28, 2014
"Article VIII provides that the state budget shall be balanced and appropriations for any fiscal year shall be no greater than the estimate of funds available and that the appropriations for a fiscal year shall not exceed the funds estimated by the General Assembly to be available for that year. 'These provisions of the constitution cannot be ignored in favor of the Pension Clause. The terms of the constitution must be interpreted to give meaning to each provision,' [said municipal restructuring expert James Spiotto]."

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