Illinois

Chicago's proposed rescue for two of its four pension funds lost momentum in the General Assembly as backers struggled to drum up votes and Gov. Pat Quinn won't say if he'd sign it.

Chicago is readying up to $1 billion of water and sewer revenue bonds to fund work on its aging systems that’s been accelerated with a funding boost from steep rate increases.

Chicago Mayor Rahm Emanuel's plan to overhaul two of the city's four pension funds is on a legislative fast-track after its introduction Wednesday.

Illinois returns to the market next week with fresh fiscal news for potential investors from Gov. Pat Quinn, who has proposed making permanent the expiring 2011 income tax hike.

Chicago is readying a pension reform bill for state legislative consideration that deals with half of its pension mess by stabilizing two its four retirement funds through increased employee and city contributions and benefit cuts.

The heavy political lifting to overhaul the governance structure of the Chicago region's transit system and improve its funding now begins following the release of a state transit task force recommendation that the current system be scrapped.

A state transit task force proposed scrapping the current governance structure of transit services in the Chicago region under a framework that calls for the creation of new, single super agency.

A proposal sponsored by Illinois House Speaker Michael Madigan to impose an income tax surcharge on individuals with income above $1 million advanced to the full House Thursday.

Illinois Gov. Pat Quinn's proposal to make a 2011 temporary income tax permanent won praise from two key factions – the General Assembly's Democratic leaders and investors.

Illinois Gov. Pat Quinn says the state should permanently extend a 2011 "temporary" income tax increase that is set to expire next year, saying the alternative is dire cuts to education and state services

Illinois Gov. Pat Quinn will lay out a fiscal 2015 budget proposal and reveal how he plans to deal with a looming income tax rate rollback. The Chicago Tribune is reporting the plan makes permanent the tax increase.

Illinois hospitals provided $704 million in charity care as part of $5.2 billion in annual "community benefits," according to the Illinois Hospital Association's latest review of hospitals' annual filings.

The Regional Transportation of Illinois is expanding its pursuit of companies and towns involved in the practice of setting up alleged sham offices in small towns to avoid higher sales taxes in Cook County.

Illinois would impose an income tax surcharge on the state's millionaires to raise $1 billion of new revenue for school funding under a constitutional amendment proposed by state House Speaker Michael Madigan

Illinois' economy, debts, and the fate of an expiring income tax hike are expected to take center stage in the governor's match between Democratic incumbent Pat Quinn and Republican businessman Bruce Rauner.

More Illinois school districts struggled financially in their last fiscal year, according to the Illinois Board of Education's latest financial profiles report.

The Chicago Park District criticized Moody's Investors Service on for its latest downgrade, arguing the agency pays too much attention to the district's links with the city of Chicago and not enough to its fiscal strengths including recent pension reforms. Chicago Public Schools were also downgraded.

A proposed 47-mile toll road linking Indiana and Illinois is eligible for a federal TIFIA loan that could reduce construction costs by up to 20%, officials said.

The Chicago Infrastructure Trust will open a search Wednesday for investors to finance energy efficiency upgrades at Chicago's public swimming pools.

The weight of Chicago's credit woes has driven a fresh round of downgrades for the Chicago Board of Education and Chicago Park District.