* I should’ve started this earlier. Better late than never, I suppose…
*** UPDATE 1 *** Pension reform is being delayed until the fall veto session at the earliest. From a press release…
May 30, 2011
STATEMENT REGARDING PENSION REFORM
We are absolutely committed to reforming Illinois’ public pension system for current employees. It must be done to stabilize our systems and address long term financial issues for both the public employee pension systems and state government.
We believe passage of legislation addressing this issue is essential to the state’s well being.
It was made very clear during the May 26th hearing in the Personnel and Pensions Committee that both those who support pension reform and those who are opposed to Senate Bill 512 acknowledge we have a problem and something must be done.
Our goal is to enact reforms to our pension systems that provide a long term solution for both those who are members of the pension systems and those who fund them.
We will convene meetings over the summer to address the issues and concerns that have been raised and work toward a solution in this year’s Fall Veto Session. [Emphasis added]
-Illinois House Speaker Michael J. Madigan
-Illinois House Republican Leader Tom Cross
-Tyrone Fahner, President, Civic Committee of the Commercial Club of Chicago
*** UPDATE 2 *** As mentioned in the live-blog above, the Senate Democrats passed an amendment through committee today that contains over $400 million in extra funding for state budgets. They attached the extra funding to a capital projects bill, so if the House doesn’t approve the extra funding the projects are held up. Click here to read their analysis…
Attached is a Senate budget overview associated with HB 2189.
Explanation of columns:
“FY 11” is the current year’s budget.
“FY 12 Intro” is the Governor’s proposed budget.
“FY 12 Senate” is the Senate budget proposal.
“FY 12 House” is the House budget proposal.
“Restorations” are Senate additions to the House budget lines.
The House budget amounts are being used as the base for proposed funding restorations in select categories.
The Senate is proposing restorations totaling $431 million.