Illinois legislators wrapped up their two-week veto session this afternoon (Nov. 7), though they may be back in Springfield before the year's end.
The General Assembly knocked one, big item off its to-do list: same-sex marriage. After intense lobbying on both sides, lawmakers on Tuesday sent the governor a measure that will allow gays and lesbians to marry.
The rest of the major issues on the General Assembly's agenda remain:
-a tax package crafted to ensure Archer Daniels Midland keeps its headquarters in Illinois is on hold
Director of Illinois' Department of Commerce and Economic Opportunity testifies at the House revenue committee about tax incentive options offered to companies looking to locate to Illinois, or threatening to leave the state.
State legislators are advancing a measure that attempts to lure chemical plant jobs to Illinois, but broader plans to offer companies like ADM incentives are not ready just yet.
Archer Daniels Midland is the highest-profile case of a company looking for a tax break from the state, in exchange for creating jobs. In ADM's case, the company is looking to move its global headquarters from Decatur to ... maybe Chicago, maybe a city in another state.
Agribusiness giant Archer Daniels Midland Co. said today that its third-quarter earnings more than doubled partly on increased profit margins on ethanol. But the Decatur-based company says its results fell short of last year when adjusted to exclude an inventory credit.
Revenue fell 2 percent but beat analysts' forecasts. Net income was $476 million, or 72 cents per share, up from $182 million, or 28 cents per share, a year earlier.
Advocates pass out fliers promoting it during the Pride Parade in Chicago over the summer; despite an intense campaign to legalize same sex marriage in Illinois, the legislation's sponsor remains tight-lipped about whether he has the 60 votes needed for it to pass in the House.
For the first time since a brief special session in July,legislators will begin making their way en masse to Springfield this week, for the fall veto session. The agenda before them is relatively light. The General Assembly will likely debate some budget matters. And there's a hearing on a new type of health care coverage for retired state employees. Amanda Vinicky previews what else is ahead.
As Archer Daniels Midland plans to move its headquarters out of Decatur, state lawmakers are considering whether to award tax breaks to keep the agribusiness giant in Illinois.
At a legislative hearing in Chicago, representatives of ADM told lawmakers they wanted incentives worth $1.2 million a year for up to 20 years. In return, the company would keep its headquarters in Illinois, likely in Chicago.
One lawmakers says it's "essentially blackmailing the state."
Archer Daniels Midland says its net income fell 22 percent in the second quarter as expenses climbed. The agribusiness company also says it more than doubled its provision for a possible settlement of an overseas bribery probe that's being conducted by the federal government.