State Closes the Books on Last Year’s Bills
Six months after the end of the last fiscal year, the Illinois State Comptroller is reporting that $5.2 billion of FY2012…
On January 11, 2012, the State of Illinois sold $800 million of General Obligation bonds to support capital projects. The bond offering included $525 million of tax-exempt bonds, as well as $275 million…
Governor Pat Quinn released a three-year budget projection for the State of Illinois this week that shows only minor improvements in the State’s…
In 2011 the IIFS blog provided weekly context, information and perspective on key fiscal issues in the State of Illinois. Posts in 2011 focused on analysis of FY2012 Illinois budget negotiations, analysis of the ongoing Illinois pension…
On December 16, 2011, the Governor signed half of a tax incentive package that was sent to him earlier in the week by the legislature. The package of tax incentives had failed to advance earlier in the veto session. After splitting a…
One of the greatest challenges facing the State of Illinois as it struggles to balance its annual operating budget is the continued growth in pension-related costs. As…
The State of Illinois’ statutorily required contributions to its five retirement systems will be $535.0 million higher than expected in FY2013, partly due to the impact of a pension reform law enacted in 2010. Required FY2013 state…
The State of Illinois’ 44 regional school superintendents’ offices, which were slated for elimination in Governor Pat Quinn’s FY2012 budget recommendation, have been granted a reprieve—at least for one year. In presenting his proposed…
The Civic Federation's legislative priorities for 2012 include public pension reform, requiring the State of Illinois to develop and implement a capital improvement plan, dissolving the Illinois International Port District, creating a new…
A proposed package of tax incentives currently being considered by the Illinois General Assembly includes eliminating tax relief known as “bonus depreciation” already provided to businesses for 2011 through a federal tax change that the…