IVCA Provides Updates for State Legislative Issues – 03/13/2024
Illinois Venture Capital Association Illinois Legislative Report
David Stricklin / Stricklin & Associates
Wednesday, March 13, 2024
CAPITOL GOES ON LOCKDOWN
A threat of gun violence phoned in to the Illinois Capitol yesterday put the building on lockdown as SWAT teams and K-9 units scoured the Capitol grounds and hallways. Legislators and lobbyists such as yours truly were swept into the nearest room and discovered whether doors which were supposed to lock did or didn’t. Thankfully there were no shots fired, no reported injuries, and as soon as the all-clear sounded the building began humming again with activity as though nothing particularly unusual had just happened. Interesting day in Springfield.
PRIMARY LOOMS OVER LEGISLATIVE ACTION
House and Senate Committees are grinding through dozens of bills which soon need to make it out of the committees to which they’ve been assigned. These are the thousands of bills which are introduced each year to address some relatively minor gap or wrinkle in the law which needs to be addressed. For many lawmakers this is really the bread and butter of their service where they can return to their districts with a solution to a problem they’re determined to address.
With the March 19 political party primary elections coming up, it also means legislators facing a spirited challenge in their district may not spend the entire week in Springfield, and there’s a general consensus that anything major can wait until after the primary.
AN EXCEPTION TO THE RULE
Unless of course the elected school board for the City of Chicago needs to be resolved, and in that case, major, consequential legislation was marshaled through the system last week:
ELECTED CPS BOARD GOES TO GOVERNOR
November marks the first time Chicago voters will be able to elect school board members. Voters will elect 10 board members while Mayor Brandon Johnson will appoint 11, effectively keeping control until the end of his first term. In 2026, all 21 seats will be up for election, with 20 members elected from districts and the board president voted on by the entire city.
ALWAYS BUDGET SEASON
By the end of May, the governor and the democratic legislative leaders will decide on a budget plan for the next fiscal year which begins July 1, 2024.
* Capitol News Illinois | With recession fears subsiding, new state economic forecast expects ‘firm but steady growth’: COGFA’s revised revenue estimates expect the current fiscal year to end with $52.6 billion in revenue, or about $2 billion ahead of what lawmakers budgeted for last May. That estimate tracks closely with the revenue estimate released by the Governor’s Office of Management and Budget in February. The GOMB estimate was about 0.7 percent, or $374 million, below COGFA’s updated projection.
ILLINOIS FISCAL CONDITION DEEP DIVE
BEARS GROUND GAME PICKING UP FIRST DOWNS IN THE CAPITOL?
Having seemingly abandoned becoming the Arlington Heights Bears, the NFL team has focused on a lakefront stadium complex and is evaluating the appetite in Springfield and at City Hall to have taxpayers help build their new home. The Chicago White Sox and principally involved as well, and other teams from various sports have suggested they should also be in the mix.
Mayor Brandon Johnson has been quoted saying he wants to see a development which would have year-round use and provide significant public benefit. If they come together, these legislative deals usually happen at the 11th hour of the session:
∙ Daily Herald: ‘We are hoping that things are not as they appear’: Arlington Heights not giving up on Bears stadium amid new reports
∙ Sun-Times: Bears urged to consider Michael Reese hospital site for domed stadium to avoid lakefront legal battle
∙ Tribune | Chicago Bears’ domed stadium proposal sparks excitement, questions — and early opposition