11.11.11
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...
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09.30.11
Entering the third year of the Illinois Jobs Now! capital program, the State’s capital revenue sources are still well below the anticipated debt coverage needed to pay for the more than $16 billion in bond funded projects already approved.
In July 2009, along with a...
09.26.11
This report examines the State of Illinois’ operating and capital budgets as enacted for Fiscal Year 2012, which began on July 1, 2011 and ends on June 30, 2012. Despite a major income tax...
09.01.11
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 businesses were owed $626.9 million in income tax...
06.03.11
After several significant budget related initiatives failed to advance out of the General Assembly, such as proposed pension reforms and...
05.13.11
Earlier this week the Institute for Illinois’ Fiscal Sustainability at the Civic Federation released its analysis of Governor Pat Quinn’s proposed FY2012 operating...
05.10.11
The State of Illinois’ largest area of capital investment, transportation projects, received a funding boost this week when the federal government announced additional grants to support high-speed rail projects in Illinois.
The U.S. Department of Transportation...
05.09.11
The Civic Federation opposes Governor Pat Quinn’s $52.7 billion FY2012 recommended operating budget for the State of Illinois because it is unbalanced by approximately $2.4 billion and is...
03.24.11
After three years of increasing budget deficits, the State of Illinois is expected to see a smaller budget gap at the end of FY2011 because of tax increases and expanded borrowing for operations.
The FY2011 year-end deficit is currently projected to total $4.4 billion, according to Civic...
03.03.11
For the second year in a row, the State of Illinois raised funds in the municipal bond market to make its annual pension contributions. On February 23, 2011, the State finalized the sale of $3.7 billion worth of Pension Obligation Bonds (POB) for FY2011.
Similar to its FY2010 POB sale,...