The Civic Federation urges the General Assembly to establish clear standards of eligibility on property tax exemptions for charitable organizations. We are concerned that many organizations are uncertain about their property tax…
Largely due to the income tax increase that took effect in January 2011, the State of Illinois’ operating deficit is expected to shrink from $3.9 billion in FY2011 to $454 million in FY2012. However, as…
Two months after the start of the State of Illinois’ 2012 fiscal year on July 1, 2011, Governor Pat Quinn has proposed the closure of seven state facilities and the layoff of more than 1,900 employees in order to cope with a funding…
The State of Illinois still owes income tax refunds to many businesses, but the backlog declined in the fiscal year ended June 30, 2011 and is expected to dip further this year. According to the Illinois Department of Revenue, 4,569…
Illinois’ Personal Property Replacement Tax (PPRT) is a revenue source for local governments that was created by the General Assembly…
As the State of Illinois enters the third year of its Illinois Jobs Now! capital program, the Governor and General Assembly enacted a capital budget for FY2012…
The Illinois Department of Revenue announced today that the final equalization factor for the Cook County 2010 property assessment year (taxes payable in 2011) is…
The State of Illinois’ plan to relieve some cash flow pressures in FY2011 by borrowing nearly $1 billion from its Special Funds to pay for operations netted less than half of that amount at the close of FY2011. The interfund borrowing…
Governor Pat Quinn’s plan to cancel pay raises for State of Illinois unionized workers due to insufficient funds in the FY2012 budget has hit a major hurdle. The plan, which would have affected 30,000 members of Council 31 of the American…
