IIFS Blog Archive: November 2011
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 contributions to the five systems had been projected to total...
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 FY2012 budget to the General Assembly on...
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 State currently conforms to.
The State of Illinois’ new commission tasked with improving the State’s budget process recently published its first annual report with substantive recommendations for implementation of performance based budgeting for the State and guidance for the next steps in the process.