103rd ILLINOIS GENERAL ASSEMLBY:
The Illinois General Assembly remains adjourned until the Fall Veto Session which begins October 24.
Representative Huynh filed HB 4104 this week which creates the Let the People Lift the Ban Act. The legislation makes changes regarding rental agreements, tenant and landlord rights and obligations, tenant and landlord remedies, security deposits, retaliatory conduct, lockouts, and conflict with other provisions of law. The bill further amends the Rent Control Preemption Act to provide that a prohibition on a unit of local government enacting, maintaining, or enforcing an ordinance or resolution that would have the effect of controlling the amount of rent charged for leasing private residential or commercial property does not apply if the voters of the unit of local government have approved a referendum allowing rent control. Adds provisions about local rent control regulation, including regulation within a district, precinct, ward, or other similar subdivision of a unit of local government. Changes the home rule preemption of the Act to concurrent exercise of home rule powers by a unit rather than exclusive exercise by the State. Repeals the Retaliatory Eviction Act. HB 4104 now heads to the House Rules Committee.
Speaker Welch appointed Representative Jonathan Carroll to chair the House Police and Fire Committee. The Committee was previously chaired by Representative Fran Hurley until her recent resignation from the House.
COGFA Report: General Funds revenues grew $677 million in May, as compared to the same month the year prior. While increases were experienced across the board, the most significant growth came from Personal Income Tax and Federal Sources.
Personal Income Tax revenues grew $367 million in May ($311 million net). Revenue from Federal Sources rose $252 million in May. Corporate Income Tax revenues increased $46 million or $37 million net. Sales Tax revenues grew $52 million or $28 million net of distributions to the Road Fund and other transportation funds.
Despite mixed results, State sources combined for a $43 million gain. Interest Income grew another $58 million in May. More modest increases came from Liquor Taxes [+$5 million] and Insurance Taxes [+$3 million]. The growth from these revenue lines helped offset revenue declines from Public Utility Taxes [-$10 million]; the Inheritance Tax [-$7 million]; the Corporate Franchise Tax [-$3 million]; Other State sources [-$2 million]; and the Cigarette Tax [-$1 million].
Transfers In were up a combined $6 million in May. Minor increases in Other Transfers [+$7
million] and Lottery Transfers [+$3 million] effectively offset the decline in Gaming Transfers [-$3
million] and Cannabis Transfers [-$1 million]. Read the full report here.
COGFA Pension Report: The Commission on Government Forecasting and Accountability contracted with the actuarial firm Segal to review the safe harbor provisions surrounding Tier 2 pensions. Read their report here.
GOVERNOR’S HIGHLIGHTS:
New Laws: This week Governor JB Pritzker signed the fifth budget of his career. The budget package includes: SB 250 (FY 24 operating and capital budget); HB 3817 (Budget Implementation); HB 3551 (Bond Authorization) and SB 1963 (Revenue Package). Using his reduction veto powers, Governor Pritzker corrected what he characterized as a “drafting error” in provisions authorizing salary increases for members of the Executive Branch and General Assembly. The legislation authorized a 5.5% raise, but state law only allows for a 5% raise.
Also signed into law this week is a measure (HB 3062) that limits venue in constitutional claims against the state to Sangamon and Cook Counties.
Housing Assistance: The Illinois Housing Development Authority is offering a new homebuyer program to help increase home purchase accessibility for low- and moderate-income individuals, families and seniors. The program will provide $10,000 for down payment and/or closing cost assistance to make buying a home more affordable. Funding for Illinois HFA1 is expected to assist more than 1,500 new homebuyers. Read more here.
OTHER NEWS:
Appellate Court Justice Jesse Reyes announced his candidacy for the Illinois Supreme Court. Reyes will run for the 1st District which is currently held by Justice Joy Cunningham who was appointed to fill the remainder of former Justice Anne Burke’s term.