Aided by an unexpected surge in income tax collections in April 2013, the State of Illinois’ backlog of unpaid bills is projected to decline to roughly $5.8 billion at the end of FY2014. As shown in the table below and discussed in a…
This analysis of the State of Illinois’ Fiscal Year 2014 Enacted Budget finds that the budget may represent a high-water mark, with future years bringing sharp reductions in revenues and further consequences of the unresolved pension…
The State of Illinois does not currently have a comprehensive policy on economic development incentives. Instead, the State offers a wide variety of financial incentives that reduce specific State or local tax burdens for businesses…
An effort to clear Illinois’ Medicaid program of ineligible enrollees has led to the removal of 128,700 participants, but State savings are expected to be far lower than hoped by lawmakers, according to testimony at a legislative hearing…
In recent years, the State of Illinois’ financial woes had been complicated by a massive backlog of unpaid income tax refunds. When the backlog was paid…
Several recently enacted laws are designed to increase public access to information about the State of Illinois’ budget and improve other aspects of the State’s budget process. The following table lists budget-related legislation signed by…
To support construction projects during the busy summer months, the State of Illinois issued $2.0 billion of capital purpose debt, which for the most part will be repaid from the State’s Capital Projects Fund. The Fund was created to…
At the end of the month, the Board of Education for Chicago Public Schools will vote on the District’s $5.6 billion operating budget for FY2014. The total budget of $6.6 billion is supported by local, state and federal revenues and other…
Moody’s Investors Service downgraded the bond ratings for seven of the nine public universities in Illinois on August 9, 2013. The ratings include a negative outlook for all of the institutions.The action from Moody’s comes after a review…
The scheduled rollout of Medicaid managed care in Illinois has been delayed by six months so hospitals can set up their own healthcare networks for Medicaid patients. The new networks, known as Accountable Care Entities (ACEs), are…
