In December the Civic Federation explored how Illinois, its local governments and other states tax recreational cannabis. In this post we will look at how those cannabis tax revenues will be spent by the State of Illinois and compare those priorities to other states. The Illinois Department of Revenue projects the State will collect $57 million in FY2020 from cannabis taxes and licensing fees and…
UPDATE: The Cook County Board passed ordinance 20-0658, imposing a 3% cannabis retailers’ occupation tax on recreational cannabis sales within the county. The new tax will go into effect July 1, 2020 and is in addition to state and local sales taxes and other cannabis taxes, as described below. The county projects it will receive $850,000 in revenue from the tax during the last six months of 2020…
The Chicago Board of Education adopted an amended budget for the Chicago Public Schools (CPS) 2020 fiscal year on November 20, 2019 to account for changes reflected in the collective bargaining agreements reached between Chicago Public Schools and the Chicago Teachers Union (CTU) and the Service Employees International Union (SEIU) for FY2020 through FY2024. The CPS fiscal year runs from July 1…
The Chicago Transit Authority (CTA) has historically received a reduced fare reimbursement, or subsidy, from the State of Illinois for providing free and discounted rides to eligible riders including seniors, people with disabilities, military and students. The CTA provides nearly 100 million free and reduced-fare trips annually, which amounts to more than $100 million in foregone revenue.[1]…
(CHICAGO) – In a report released today, the Civic Federation announced its support for the City of Chicago’s proposed $9.9 billion FY2020 budget but still has several significant reservations. The full analysis is available here. Entering FY2020 Mayor Lightfoot faced a historic $838.2 million Corporate Fund budget deficit driven largely by a huge increase in pension contributions to the Police…
Click here to read the full report. Click here to read the press release for this analysis. EXECUTIVE SUMMARY The Civic Federation supports Mayor Lightfoot’s proposed FY2020 local funds budget of approximately $9.9 billion, but with several significant concerns. Entering FY2020 Mayor Lightfoot faced a historic $838.2 million Corporate Fund budget deficit driven largely by a $281.2 million…
2020 Civic Federation Legislative Priorities The Civic Federation's legislative priorities for 2020 include public employee pension reforms, consolidation of local government units in Illinois, enacting policies to rationalize the property tax system, creation of a Local Government Protection Authority, requiring the State of Illinois to…
(CHICAGO) -- In a report released today, the Civic Federation announced support for Cook County’s proposed FY2020 budget. The $6.18 billion budget proposal is a reasonable budget plan that holds the line on increasing taxes or fees while continuing to make investments in communities and services. The full report is available here. “This prudent one-year plan should be viewed as a calm-before-the…
Click here to read the full report. Click here to read the press release for this analysis. EXECUTIVE SUMMARY The Civic Federation supports the Cook County FY2020 Executive Budget Recommendation of $6.18 billion because it presents a reasonable budget plan that holds the line on increasing taxes or fees while continuing to make investments in communities and services. Thanks to structural…
This article covered Chicago Mayor Lori Lightfoot's budget address, in which she presented her recommendation for the City's FY2020 budget. Civic Federation President Laurence Msall said that the proposal was a "strong effort" to close a more than $800 million gap. However, Mr. Msall also raised concerns that a number of the Mayor's proposed gap closing measures rely on authorization from…
