On Friday, as required by the Illinois state fiscal year 2023 budget, the final deposit will be made into the Budget Stabilization Fund, and the State of Illinois’ Fiscal Year 2024 budget will deposit an additional $138 million.

That will boost the fund to over $2 billion, the highest balance in state history. Illinois created the Budget Stabilization Fund in 2001 with the intent to use it as a ‘rainy-day’ fund for future fiscal emergencies or economic downturns.