tax credit

Bruce Rauner
Brian Mackey/WUIS

Gov. Bruce Rauner says he choose to award business tax credits to uphold Illinois' trustworthiness with companies, but the Republican's critics are calling it "beyond the pale."

Social service organizations are still reeling from the unexpected news they received a week ago that Gov. Rauner was immediately cutting off their state grants. No longer would there be money to bury the indigent. Funding for The Autism Program, eliminated. Funding stripped from addiction prevention. Cuts totaling $200 million.

Amanda Vinicky

  One of Illinois' main tools for attracting and retaining companies in the state would get a revamp under a plan unveiled yesterday by the Speaker of the Illinois House. It drew immediate criticism from business groups.

More than 700 companies have what are known as EDGE tax credits, given in exchange for keeping, or creating new, jobs.

House Speaker Michael Madigan says his aim in changing it is to "insure that he program is being run in a way that benefits both the recipients and the taxpayers of Illinois."

  A newly merged Office Depot chose to locate its headquarters in Florida, instead of Illinois. A Republican candidate for governor says Illinois needs to hurry if it doesn't want a similar fate with Archer Daniels Midland.

Archer Daniels Midland is based in Decatur now, and no matter what plans to keep many of its operations there. But it's searching for a new worldwide headquarters.

Chicago's in the running, but so are major cities.

Amanda Vinicky

  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.

ILGA.gov

  Illinois legislators are scheduled to finish out their veto session this week. Their back-loaded agenda ranges from dealing with budget matters to social issues.

The first week of the veto session late last month went by with little of substance accomplished.

But what the General Assembly didn't touch then is back now.

Like tax packages designed to keep companies, like Archer Daniels Midland, headquartered in Illinois.

It also appears the sponsor of stalled same-sex marriage legislation is leaning toward calling it for a vote in the House.

Amanda Vinicky

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.

Gov. Pat Quinn
Brian Mackey/WUIS

When lawmakers return to Springfield for their fall session later this month, they'll be weighing requests from several international companies that want tax breaks for keeping their headquarters in Illinois. But Gov. Pat Quinn is throwing cold water on that idea.

Most of the tax-credit attention has gone to agribusiness giant Archer Daniels Midland Company, which wants up to $24 million keep its global head office in Illinois. But lawmakers have also heard requests from Zurich Insurance, based in Schaumburg, and OfficeMax, based in Naperville, and there are others.

ADM

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."

Amanda Vinicky

With college tuition on the rise, Illinois House Republicans say they want to give working class families a break, and an incentive to go to a school in state.

 

Rep. Adam Brown graduated from the University of Illinois Urbana Champaign in 2007, but in that short time, tuition's steadily gone up.

BROWN: "The average cost for tuition, fees and books right now -- $26,000 and ten years ago that was $19,000.”