Illinois

  • Tax Relief Package Passes IL House Committee

    The IL House Revenue Committee approved a package of tax breaks for Illinois businesses on a 6-0 vote. The measure is expected to come up on the House floor today.

    The tax package includes $85 million in relief for Chicago-based financial exchanges that are threatening to leave the state. It also includes $15 million in tax credits for Sears.
     

  • IL Legislators to Take Up Corporate Tax Deal

    IL legislators are expected to take up a tax package next week aimed at keeping two IL corporations from leaving the state. The General Assembly will reconvene on November 29 in extended veto session to address the package.

    A Revenue & Finance Committee hearing is scheduled for Monday, November 28th, at 1:00 p.m. at the Capitol to hear testimony on any new amendments to the legislation. The measure is in response to the CME Group Inc., parent company of the Chicago Mercantile Exchange, and Sears Holdings Corp. who said they would leave Illinois if they weren't given some sort of relief from their tax bills.