Local governments in Illinois would face tougher disclosure requirements on their debt and retiree costs under proposals announced by House Republicans designed to improve public access to the information.

House Minority Leader Tom Cross, R-Oswego, and Rep. Ron Sandack, R-Downers Grove, are pushing legislation that make information on local governments' debt, pension and retiree health care costs more accessible.

The proposal also would establish a special board to review local government taxing, debt and spending.

Local governments in Cook County have raised property taxes nearly 50% during the last 10 years, mostly to keep pace with growing pension and post-employment benefits, and are moving along an "unsustainable" path, the Illinois Policy Institute warned in a 2012 report.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.