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Still recovering from Gov. Pat Quinn's recent call for $2.7 billion in Medicaid cuts, not-for-profit hospitals in Illinois took a second blow when he lifted a six-month moratorium on stripping hospitals of their property tax-exemptions for failing to provide sufficient charity care.

The head of the nonpartisan Center for Tax and Budget Accountability last week called on lawmakers to end Illinois’ flat income-tax rate and shift to a graduated tax based on income levels.

The Illinois Health Facilities and Services Review Board last week approved Naperville-based Edward Hospital’s $64 million expansion plan.

Indiana collected less revenue than expected last month, though revenues remained up for the first eight months of the fiscal year, officials said this week.

Moody’s Investors Service has downgraded to Baa1 from A3 its rating on the Brighton Area School District and maintained its negative outlook, warning that the Michigan district is facing financial pressures and a significant general fund deficit.

The Michigan treasurer announced Friday that Detroit Public Schools will take over management of the struggling Highland Park School District.

The owners of the St. Louis Rams last week rejected the St. Louis Convention and Visitors Center’s proposed $124 million plan to upgrade the team’s Edward Jones Dome stadium, which relied on $60 million of public funding.

A measure that would ask residents of Ohio to authorize $1.3 billion of bonds to finance clean energy efforts advanced in late February when the state attorney general approved the measure.

Moody’s Investors Service has downgraded the Columbus School District one notch to A1 ahead of its $1.5 million issue that will refund a Wisconsin state trust fund loan.

by: Jim Watts

DALLAS — Voters in North Richland Hills, Texas, will decide May 12 on $48 million of general obligation bonds to build a new municipal complex in the Fort Worth suburb.

CHICAGO — Lawmakers in South Dakota, typically one of the first states to complete its budget, last Friday approved a $4 billion, all-funds fiscal 2013 budget that reflects the state's strengthening fiscal position.

CHICAGO — Illinois enters the market next Tuesday with $500 million of general obligation bonds for capital projects and is planning two additional new-money sales before closing the books on the fiscal year in June.

CHICAGO — Former public finance banker and credit analyst Ivan Samstein has joined Cook County, Ill.'s finance team as deputy chief financial officer.

S&P proposed a new rating methodology for local governments. The chief changes would be to increase the emphasis on numerical sub-ratings, formalize the role of a state's institutional framework, introduce weighting measures to emphasize the factors, and to formalize a flow pattern for the rating process.

The tax-exempt market is struggling to hold its ground amid the year’s largest week of municipal issuance.

The Municipal Securities Rulemaking Board proposed rule changes and interpretive guidance aimed at ensuring that underwriters and dealers comply with an issuer's instructions to sell bonds to retail investors during retail order periods.

The Senate on Tuesday voted against limiting debate on dozens of amendments lawmakers want to add to a bipartisan transportation bill, setting up more negotiations as Congress moves closer to having to resort to yet another temporary extension to the current law before it expires at the end of this month.

WASHINGTON — This year, the volume of municipal debt issuance is expected to increase from the suppressed levels in 2011 caused by curtailed federal spending, federal cuts to Medicaid and Medicare, and pent-up capital requirements and borrowing needs, according to a report Moody's Investors Service released Monday.


The Allen Park, Mich., case marks the first time a city official has been charged on the theory that he "controlled" the persons who committed the primary securities law violations, even though he isn't alleged to have participated or even known of the conduct at issue.

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