State of Illinois

Capital Markets Director Kelly Hutchinson has returned to private sector after more than three years managing state debt issuance.

The measure, backed by Gov. J.B. Pritzker, cleared the House Revenue and Finance Committee on a party-line vote.

The 10 most populous U.S. states that levy income taxes all saw April revenue spikes, in many cases after missing projections in the previous months.

The governor's preliminary proposal relies on $17.8 billion of borrowing over six years.

The federation endorsed the plan only after Gov. J.B. Pritzker dropped plans for a partial pension funding holiday.

Illinois bonds are gaining ground in the secondary, supported by scant supply and recent fiscal developments viewed positively by investors and analysts.

Gov. J.B. Pritzker's about-face on re-amortizing to reduce next year's pension contribution is one less negative rating factor, agency analysts said.

The Pritzker administration says it can now afford to make the full originally scheduled pension contribution without re-amortizing the funding timetable.

A graduated income tax could lay the groundwork for Illinois to rebuild its credit quality — but only if done right, according to the rating agency.

The state Senate approved the proposed constitutional amendment on a party-line vote.