Best Wishes for the Holiday Season!

House Bill Calls for Bond Issues to Cover Payments
HB6240 authorizes the issue of $4 billion in general obligation bonds for making payments to state vendors who have not been paid from FY2012. Status: Pending House Executive Committee.

Senate Bill Seeks More Corporate Tax Disclosure
SB282 requires publicly traded corporations doing business in Illinois to file an annual statement detailing taxable income, state income tax liability, claimed tax credits, etc. Status: Passed Senate; pending in House Assignments Committee.

Comprehensive Tier 1 Employee Pension Reform Proposed
Lawmakers put forth HB6258, a pension reform measure that includes a gradual cost shift of teacher/professor pensions to respective schools and increased contributions by employees. Status: Pending House Rules Committee.

Pension Reform Seeks to Shift Costs from State
HB6252 shifts the costs of health insurance coverage for future employees of certain higher education institutions from the State to those institutions. Status: Pending in House Rules Committee.

House Bill Set to Expand Medicaid
HB6253 expands the state's Medicaid program to include single, childless adults in 2014 in accordance with the Affordable Care Act. Status: Pending in House Appropriations-Human Services Committee.

Senate Passes Temporary Visitor Driver’s License Bill
SB957 authorizes the issue of temporary visitor's driver's licenses to individuals who have lived in Illinois for more than one year and are eligible to obtain a social security card, home country passport or consulate credentials. Status: Passed Senate, pending in House Transportation Committee.

2013 License Plate Fees Set to Rise
SB1566 adds $2 to license plate fees, raising them to $101. The additional revenues will be used to fund maintenance and improvements at Illinois State Parks. Status: Public Act 97-1136, effective Jan. 1, 2013.

Senate Acts to Keep Barge Traffic on Mississippi River
The Illinois Senate passed SJR80, encouraging Presidential emergency action to avert the U.S. Army Corps of Engineers from closing the Mississippi River to barge traffic. Status: Adopted by Senate and House.

Special Congressional Election for Illinois' House District
Governor Quinn signed legislation amending the election code to allow the special election to replace former Congressman Jesse Jackson Jr. to coincide with the upcoming municipal elections.

Affordable Care Act Brings Changes to Illinois Insurance Laws
The Illinois Department of Insurance released a summary report of the changes that will occur to Illinois health insurance laws with the implementation of the Affordable Care Act.

Special Report Examines Illinois Pension Debt
The Commission on Government Forecasting and Accountability released a Special Briefing on five state-funded pension systems.

Illinois 48th in Best/Worst Run States Report
24/7Wall St. published a report illustrating the best and the worst run states based on a variety of factors.

New House Financial Services Committee Chair Chosen
"Rep. Jeb Hensarling (R-Texas) will head the House Financial Services Committee in the 113th Congress, after being officially selected for the position."
(The Hill)

State Data Lab Website Reveals Accounting Truths
The Institute for Truth in Accounting's new website details financial and demographic information for all 50 states.

Bill Aims to Increase Visa Availability
HR6429, the "STEM Jobs Act of 2012," creates a new green card program for immigrants who complete graduate school in a technical field but are forced to leave due to a limited number of visas.