Illinois

Illinois Gov. Bruce Rauner signed legislation that frees up $3 billion of funds, allowing the state to distribute motor fuel taxes, gambling, and emergency phone service revenues to local governments.

The Metropolitan Water Reclamation District of Greater Chicago’s proposed $1.21 billion budget has won a key endorsement.

Key portions of a lawsuit filed by a group of Chicago retirees to block the city’s attempt to phase out their healthcare subsidies can proceed, a state court judge ruled.

Moody’s Investors Service revised the outlook on its Baa3 rating of Roosevelt University in Chicago to negative as it struggles with enrollment loses.

Motor fuel tax revenues and gambling tax funds owed to local governments in Illinois would begin flowing again under legislation advancing with Gov. Bruce Rauner’s support.

Chicago Public Schools’ chief financial officer, Ginger Ostro, is leaving the troubled district.

Illinois will make its scheduled $560 million December pension payment despite the ongoing state budget impasse, state comptroller Leslie Geissler Munger says.

The Illinois-based College of DuPage’s former treasurer Thomas Glaser and controller Lynn Sapyta filed a federal lawsuit Tuesday accusing their former employer of wrongful termination for their opposition to a board member’s political agenda.

The Moraine Valley Community College in Illinois lost its top credit marks ahead of its upcoming $9.2 million general obligation refunding.

Illinois’ economic strengths and fiscal flexibility as a sovereign state won’t shield it from further credit erosion, which would move it closer to junk, Moody’s Investors Service said in a special commentary.

The credit picture for the already junk-rated Chicago Public Schools has become even bleaker as Standard & Poor’s placed the district on CreditWatch with negative implications.

Chicago's top-rated sales tax credit took a three notch blow over the city's budget and pension strains.

Cook County’s plan to veer from state law and make an actuarial-based pension contribution offers a “novel approach” that could shape public pension funding debate in Illinois, Fitch Ratings says.

The municipal market’s buyside views Chicago’s pension reform appeal before the Illinois Supreme Court as a longshot and wants the city to come up with an alternative.

Cook County, Illinois board President Toni Preckwinkle defended its newly approved $4.5 billion 2016 budget, which relies on several tax hikes, as a “responsible” plan to meet county’s pension and budget needs.

The Chicago City Council adopted new rules governing any future asset privatization deals against a backdrop of lingering political and public anger over the city’s parking meter lease fiasco.

The fate of Chicago’s overhaul of two of its four pension funds now rests with the seven justices of the Illinois Supreme Court.

The Illinois State Toll Highway Authority is highlighting to investors its double-A ratings and fiscal strength as it prices a $400 million deal against a backdrop of two recent downgrades to Illinois state general obligation bonds.

Illinois Gov. Bruce Rauner’s budget summit with legislative leaders is being pushed back two weeks as the state’s bill backlog climbs and its credit ratings remain under threat.

A consortium of Canadian pension funds will take over the lease rights to the Chicago Skyway toll road for $2.8 billion.