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* Mayors snub governor, want their money…
Hoping to flex a little Springfield muscle, mayors representing hundreds of municipalities in metropolitan Chicago today launched a campaign to get lawmakers to stop dipping into the share of state income tax receipts meant for cities and villages, with hundreds of millions of dollars a year at stake.
There are distinctly mixed signs as to how the mayors will fare, with Gov. J.B. Pritzker’s office standing by its view that if municipalities want help, they ought to get behind his plan to close $900 million in “corporate tax loopholes.” […]
A Pritzker spokeswoman said the solution is simple: back the plan to close loopholes. Because some of those loopholes affect local tax collections, that step would generate $228 million a year for local governments, more than the proposed $152 million cut in the local distributive share.
But Palos Hills Mayor Gerald Bennett likened that to “a shell game.” Instead of “using our money as some sort of leverage,” he said, Pritzker ought to restore the distributive share.
“Our money.”
* Sun-Times…
As pot smokers across Illinois celebrated 420 — marijuana’s unofficial high holiday — state Rep. La Shawn Ford quietly filed a long-awaited amendment to a bill that aims to resolve the state’s beleaguered cannabis licensing process and vastly expand the legal weed industry.
“This is driving home the intent of the cannabis law of Illinois,” Ford, a Chicago Democrat, told the Sun-Times on Tuesday. “We want to get to the point of true social equity.”
Ford’s proposal would most notably create up to 120 new pot shop licenses, adding to the 75 dispensary permits that have remained in limbo for nearly a year. Those outstanding licenses were the first prioritized to social equity applicants, a designation created by the law that legalized recreational weed in an effort to diversify Illinois’ white-dominated marijuana industry.
* Bipartisan tax bill…
State Sen. Win Stoller, R-Germantown Hills, has Senate Bill 2531 at the statehouse that would change state tax code so businesses can take advantage of a change the IRS approved allowing them to file as an entity, rather than on the individual level.
“The beautiful thing about this is it will cost Illinois nothing,” Stoller said. “It’s completely revenue-neutral to Illinois.”
He said if passed and signed into law, the measure could lower the federal tax burden for more than 400,000 Illinois pass-through businesses, S-corporations and partnerships in Illinois. […]
The measure is also supported by state Sen. Robert Martwick, D-Chicago, especially because it is revenue-neutral.
“And in a time where Illinois continues to face the challenge that we do, being able to provide some relief to our small businesses and help economic growth and job creation is something I think everyone should get on board,” Martwick said.
The bill was placed on Third Reading yesterday.
* More bipartisanship from Rep. Delia Ramirez (D-Chicago) and Rep. Tom Demmer (R-Dixon) writing in the Sun-Times…
In House Bill 3123, we are proposing the Build Illinois Homes Tax Credit to build on the federal aid, providing that needed boost to private housing developers ready to go to work. We estimate building 3,500 homes or apartments every year through the program, supporting 17,150 jobs over the next 10 years and creating more than $1 billion in extra income for Illinoisans over a decade.
Illinois would join 20 states now using the tax credit to match more federal funds for building affordable housing, and recent congressional action means there are even more federal aid dollars available for these projects.
The best news? While the tax credit comes with an estimated annual $35 million price tag, Illinois will see zero expenses until the projects are complete and the housing occupied. We will see the direct benefits of today’s investment at no cost to taxpayers until more people have a place to call home. We must credit the leadership of the Illinois Housing Council and its coalition of supporting partners for helping us push for this long-term solution.
* Related…
* Affordable housing tax credit bill advances out of committee
* New bill would require nursing homes to allow virtual visits
* Legislation from Cunningham to help community gardens
posted by Rich Miller
Wednesday, Apr 21, 21 @ 12:13 pm
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“Our nausea.”
Comment by Candy Dogood Wednesday, Apr 21, 21 @ 12:20 pm
Hopefully some of the developers that may be able to benefit from HB3123 will focus more on rehabbing areas rather than all new construction where it can be feasibly done. Improving housing in existing neighborhoods can have magnificent ripple effects in reducing poverty, job opportunities, and just plain health and safety of all residents. (Section 1-7 of that bill)
Comment by Anon221 Wednesday, Apr 21, 21 @ 12:24 pm
Can you be opposed to the Federal Government repealing the $10,000 state and local tax deduction, but support a state bill that creates a way for pass through businesses to get around that same $10,000 state and local tax deduction?
Comment by Numbers Guy Wednesday, Apr 21, 21 @ 12:33 pm
I’m sure the mayors are as upset as anyone about the failure of the Fair Tax, especially after all the effort they put into trying to get it approved.
Comment by Third Reading Wednesday, Apr 21, 21 @ 12:39 pm
If the Governor was thinking ahead he would tie the elimiation of the corporate tax loophole to a dollar for dollar reduction local property taxes. These local mayors want their money but won’t reduce propery taxes.
Comment by Publius Wednesday, Apr 21, 21 @ 12:53 pm
I have zero sympathy for any of these mayors/presidents.
The LGDF has been a known location for cuts long before the progressive tax was even on the ballot, yet none of them seemed to be able to link the two events together in how it would impact their area.
At this point, the only conclusion I can reach is that almost zero mayors actually understand the concept of public service and the responsibilities it entails, and are simply there because their local elections are nothing more than the equivalent of a high school popularity contest.
If mayors and their lobbying arm want to act like they are in high school, fine. Here are the financial consequences for that behavior. Accept the consequences you have thrust onto your residents, or resign and let someone with more emotional maturity take over the role.
Comment by TheInvisibleMan Wednesday, Apr 21, 21 @ 12:59 pm
If mayors and their lobbying arm want to act like they are in high school, fine. Here are the financial consequences for that behavior. Accept the consequences you have thrust onto your residents, or resign and let someone with more emotional maturity take over the role. You may want to inform the governor of that proposal.
Comment by I_feel_strongly_both_ways Wednesday, Apr 21, 21 @ 1:14 pm
- You may want to inform the governor of that proposal.
I do not.
The governor is doing a perfectly fine job communicating actual numbers, hard facts, and consequences to the mayors.
Comment by TheInvisibleMan Wednesday, Apr 21, 21 @ 1:33 pm
“our money” = entitled politicians who have been in office too long
Comment by RNUG Wednesday, Apr 21, 21 @ 2:37 pm
The governor is doing a perfectly fine job communicating actual numbers, hard facts, and consequences to the mayors. But not allocating the funds unless he gets what he desires while municipalities suffer from his political game.
Comment by I_feel_strongly_both_ways Wednesday, Apr 21, 21 @ 3:01 pm