SPRINGFIELD – I am pleased to see the state legislature conclude their work on time to pass a state budget for the new fiscal year beginning July 1.
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The Fiscal Year 2027 budget provides for a spending plan of $55.9 billion. It maintains stable funding for state government services and funds key state priorities for needs like K-12 education, MAP grants for college students, social and human services, nursing homes, public safety and Safety Net Hospitals while also acknowledging more could be done in future budgets for the Critical Access Pharmacy Program and for Community-Based Service Providers.
I am especially pleased to see that the budget keeps intact the Rainy Day Fund, which is an essential tool for the Illinois Office of Comptroller to use in the event of economic downturns, and that all the required deposits and transfers will occur in the new budget year. The fund’s balance is estimated to grow to nearly $2.7 billion by the end of the next fiscal year in June 2027. It also redirects surplus of funds into the Pension Stabilization Fund.
I am also thankful for the legislature’s unanimous passage of HB 4695, which gives my office more oversight over crematories and their operators. I spearheaded the effort to combat unscrupulous practices, and the unethical treatment of human remains.
I was pleased to offer testimony on HB 4712, identifying the misuse of TIF funds that are supposed to be used for long-term economic development. The bill would end raids on TIF funds by local officials using it to plug budget shortfalls. I hope discussions on this bill continue.
