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 governing board for the Cook County Forest Preserve District, requiring all counties to hold budget hearings and large counties to produce timely annual audits…
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. Among other provisions, Senate Bill 397 provides tax credits to specific companies that have publicly stated they are considering…
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. The Budgeting for Results Commission was appointed by Governor Pat Quinn in August 2011 and has spent the last several…
The Illinois General Assembly is expected to take up a host of budget-related bills during its veto session, which opened on October 25, 2011. During the veto session, the General Assembly considers bills vetoed by the Governor. The legislature also considers bills that it had not acted on when the spring session adjourned, but only if they progressed far enough in the legislative process to meet…
Faced with mounting pension costs, the State of Illinois and a number of other states are considering moving away from traditional pension plans. In traditional pension plans, formally called defined benefit (DB) plans, employers are responsible for a specified level of benefits at retirement, typically based on an employee’s earnings, length of service or both. In 401(k)-type plans, formally…
This article discusses the negative effect that revenue declines are having on the fiscal condition of states’ budgets. The Civic Federation says that the State of Illinois will not grow out its way out of fiscal trouble and that it must make more budget cuts.
This article is about an advisory report about the State of Illinois debt load, issued by U.S. Senator Mark Kirk, which cites IIFS’ “Cost of the Crisis” report from 2010.
Civic Federation President Laurence Msall is interviewed about the State of Illinois’ fiscal problems.
This article profiles the budget troubles faced by a number of states. It cites IIFS’ analysis of the State of Illinois’ FY2012 enacted budget, which found that Illinois will face $8.3 billion in unpaid bills.
The State of Illinois will take public testimony this week on the goals, priorities and performance measures that are being developed as part of an ongoing effort to reform the State’s annual budget process. As previously described here, the State began a process known as Budgeting for Results in the fall of 2010 in preparation for the FY2012 budget. Under the statutory requirements passed as…
