Pritzker’s proposal to address worst underfunded state pensions in US dissected | Illinois
(The Center Square) – Gov. J.B. Pritzker’s plan to address Illinois’ pension woes was the subject of a House hearing Thursday. Pritzker is proposing the state increase its statutory funding ratio goal for its pension funds to 100% by fiscal year 2048. The current goal was established by former Gov. Jim Edgar and the Illinois General Assembly in […]
Illinois quick hits: Rivian announces more layoffs; man charged for trafficking Masters merchandise | Illinois
Rivian announces more layoffs Rivian has announced more companywide layoffs. According to company officials, the layoffs will affect an additional 1% of the electric vehicle manufacturer’s workforce. The latest layoffs are in addition to the job cuts announced in February when Rivian said it was reducing its salaried workforce by 10%. The company said none […]
Illinois news in brief: Dolton, Thorton Township administrator faces bankruptcy fraud charge | Illinois
Dolton, Thorton Township administrator faces bankruptcy fraud charge A senior administrator for the village of Dolton, who also works for Thornton Township, has been charged with federal bankruptcy fraud. Federal prosecutors announced 45-year-old Keith Douglas Freeman of Orland Park was indicted this week with one count of bankruptcy fraud. If found guilty, the penalty could be […]
Bill expanding emergency powers for Illinois state agency advances | Illinois
(The Center Square) – A measure now in the Illinois House says the Illinois Emergency Management Agency would be able to do “all things necessary, incidental, or appropriate for the implementation” of the Illinois Emergency Management Agency Act. Opponents of Senate Bill 3434 said Illinois’ emergency authority continues under the Pritzker administration and giving more […]
Illinois quick hits: New state agency passes Senate; trooper cadet class graduates; richest Illinoisans revealed | Illinois
New state agency passes Senate The Illinois Senate approved a measure that would create a new state agency for early childhood programs. Senate Bill 1 was approved unanimously to over time consolidate initiatives in three separate state agencies into one new state agency titled the Department of Early Childhood. In the first year of the […]
Legislator: IL taxpayers could be out ‘billions’ as bills enhancing pensions advance | Illinois
(The Center Square) – Proposed Tier 2 pension enhancements in Illinois could come at a taxpayer cost of “billions,” according to a state legislator. State Rep. Blaine Wilhour, R-Beecher City, said originally lawmakers’ conversations surrounding the Tier 2 pension system were about fixing Tier 2 to ensure it didn’t run afoul of safe harbor, a […]
Proposed legislation would increase threshold for farm estate taxes | Illinois
(The Center Square) – There is a bipartisan effort in Illinois aimed at preserving family farms in the event of a family member’s death. The Family Farm Preservation Act in House Bill 4600 is designed to protect farm families and their land by updating the Illinois Estate Tax code to include protections in regards to inflation. Proponents say […]
Illinois Senate passes changes to state’s Biometric Information Privacy Act | Illinois
(The Center Square) – The Illinois Senate has passed legislation that would make changes to the liability guidelines in the Biometric Information Privacy Act. Senate Bill 2979 from state Sen. Bill Cunningham, D-Chicago, would limit the number of claims accrued should an employee bring a lawsuit against a company for a violation of BIPA. If a certain biometric identifier […]
Pritzker defends IL’s tax credits while MO looks to slash corporate rate | Illinois
(The Center Square) – While Illinois looks at tax credits for gifting endowments, student loans, hiring journalists and music companies, Missouri is looking at phasing out not just tax credits but also their corporate income tax. Not among the slew of tax credits the Illinois Senate is reviewing is the Invest in Kids school choice […]
Congress focuses on work requirements for federal benefits with Illinois hearing | National
(The Center Square) – A Congressional hearing held in Chicago Tuesday explored ways to lift people out of poverty with employment being the main theme. The U.S. House Ways and Means Subcommittee on Work and Welfare held a field hearing Tuesday in Chicago to examine ways to help people get out of poverty through employment. The […]