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 The Business News section provides access to all State of Illinois press releases that have been published about business-related issues and news, ranging from announcements about new businesses and the creation of jobs, to business incentives and grant awards.
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12/16/08 - $1.4 Billion to be Available to Pay Bills Before the New Year
Because the national recession has negatively affected Illinois’ revenue and caused a $2 billion fiscal year 2009 budget deficit, the State will be selling $1.4 billion in general obligation certificates to infuse the General Revenue Fund with much needed cash to pay vendors and providers who urgently need payment.
12/15/08 - Governor Blagojevich Signs Legislation to Strengthen Illinois’ Film Tax Credit
Increasing tax credit from 20 percent to 30 percent will encourage additional film business in Illinois
Building on his commitment to help the Illinois film industry continue to achieve record success, Governor Rod R. Blagojevich today signed Senate Bill 1981, legislation that renews and strengthens the Illinois Film Tax Credit.
11/18/08 - Governor Blagojevich Announces Plan to Manage Fiscal Year 2009 Budget Deficit
$2 billion deficit to be eliminated by emergency budget powers, increased federal stimulus, and further administrative reductions
Citing the impact of the national economic crisis on Illinois’ revenues, Governor Rod R. Blagojevich today announced a four-part plan to manage the state’s $2 billion fiscal year 2009 budget deficit. The Governor’s proposed plan includes passage of the Emergency Budget Act, which would give the Governor and other constitutional officers added authority to help them make additional cuts, a request to Congress for increased federal stimulus aid, and further administrative reductions in the agencies. In addition to these budget solutions, the Governor is also proposing short-term borrowing which will help manage the state’s cash flow and pay providers in a more timely matter.
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