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The budget for fiscal year 2025, starting on July 1, creates just shy of $53.3 billion in revenues and passed in a 38-21 vote. ... That includes funding for the second year of the Smart Start ...
Illinois Gov. J.B. Pritzker pitched a $52.7 billion state spending plan Wednesday with more money to address the migrant crisis, education and quantum computing, while proposing tax increases that ...
Chicago budget update Chicago Mayor Brandon Johnson has eliminated property-tax increases from his latest budget proposal for 2025, but at least 15 members of the city council remain opposed to ...
In the table, the fiscal years column lists all of the fiscal years the budget covers and the budget and budget per capita columns show the total for all those years. Note that a fiscal year is named for the calendar year in which it ends, so "2022-23" means two fiscal years: the one ending in calendar year 2022 and the one ending in calendar ...
Illinois has the second highest unfunded pension ratio, after New Jersey. Illinois state budget contributions have fallen short of the increases in pension liabilities for 12 of the past 15 years, resulting in a three-fold increase in the funding gap. [2] Illinois' pension obligations are made up of five pension plans for public sector employees.
The four published an op-ed in which they argued, "Experience has demonstrated that unexpected events can have drastic impacts on our state budget. A major natural disaster or economic turmoil can blow huge holes in a budget, even in states in healthy financial condition - which Illinois is decidedly not.
Pritzker announced the multi-year project, $900 million proposal in March when it was unclear whether Logan would be rebuilt on the grounds. Since then, the Illinois Department of Corrections ...
Earlier this month, the Governor’s Office of Management and Budget released a five-year projection that shows the state spending $63 billion by 2030, creating an annual $5 billion deficit. In ...