As the State of Illinois enters the fifth year of its $31-billion Illinois Jobs Now! capital spending program, revenue sources approved to fund the projects are still lagging far behind original projections. Revenues deposited in the…
On July 22, 2013, Governor Pat Quinn signed legislation to allow Illinois to expand its Medicaid program under the…
An increase in the cigarette tax increase designed to provide additional funding for the Illinois Medicaid program generated more revenues than expected despite a drop in sales and hoarding of tax stamps prior to the effective date of the…
Charged with finding a solution to the State of Illinois’ pension crisis, a legislative conference committee is considering a reform framework proposed by public university presidents. The central feature of the…
Amidst a flurry of reports on the State of Illinois’ inability to solve its ongoing pension crisis and…
Despite increasing its revenue estimate on the final day of the regular legislative session, the Illinois General Assembly appears to have enacted a spending plan for FY2014 that exceeds the State’s expected resources. On May 31, 2013, the…
Due to its large backlog of outstanding bills, the State of Illinois has permanently extended its annual deadline for paying old bills to December 31—six months after the end of the fiscal year. The extension was enacted without fanfare in…
Less than a week after the Illinois General Assembly adjourned its regular spring session without approving reform of the State’s underfunded retirement systems, two of the three major rating agencies have downgraded the State’s bond…
