Illinois

Mayor Lori Lightfoot says she will keep fighting to reshape the legislation the state Senate approved this week to transition to a fully elected school board.

The authority will scoop-and-toss some near-term debt to avoid a shortfall that would force Chicago to dig into its own pockets to cover a hotel tax shortfall.

The budget pays off Municipal Liquidity Fund loans, goes easier on local governments, cuts some corporate incentives, and begins drawing down federal relief.

The agency is refunding $104.5 million of Federal Transit Administration section 5307 bonds and $23 million of FTA section 5337 bonds.

Illinois lawmakers head into the final stretch of spring session with negotiations underway on legislation that would alter Chicago Public Schools governance.

Illinois public universities reap rewards of federal aid and state rating stabilization.

Illinois won't wait for the Treasury Department to consider its request to add COVID-19-related debt repayment as an eligible use of ARP funds.

The state Supreme Court upheld with the original circuit court ruling tossing out the lawsuit, which sought to invalidate more than $14 billion of GO bonds.

Daniel Isacksen Jr. replaces the retiring interim chief financial officer, Cynthia Clemence, for the Livonia, Michigan-based hospital system.

The state's high court justices could resolve legal questions raised in a lawsuit that argues `$14 billion of outstanding GOs are invalid.

States are well-positioned to emerge from COVID-19, the investment firm said in its annual grading.

The Harvey firefighters pension fund argues that the troubled city's share of American Rescue Plan funds should be subject to an intercept of state funds.

State Comptroller Susana Mendoza urges the Treasury Department to change its guidelines to allow the state to pay off MLF loans with ARP funds.

The city and state want to use ARP funds to repay debt issued to manage the pandemic but Treasury's initial guidance would derail those plans.

Gov. J.B. Pritzker is now willing to fully fund a scheduled education funding hike but other contentious issues remain, notably corporate tax breaks.

Federal coronavirus relief helps the city deal with immediate budget problems, but pensions loom large over the city's post-pandemic fiscal landscape.

The change to monthly from quarterly revenue reports is a positive, the rating agency said, though the ordinance doesn't extend to expenses or cash flow.

Reopening would help a public agency that needs $15 million in state help to cover debt service this year and is asking for additional operating subsidies.

Change is afoot for CPS as its leader Janice Jackson is leaving and legislation stripping Chicago's mayor of full power to appoint CPS board members gains legislative momentum.

More Illinois districts were lifted into the top fiscal category last year even as they navigated the start of COVID-19 pandemic