Tagged: pensions

Lawmakers in Illinois went past their midnight deadline in Springfield on Thursday in an effort to finish their business before the campaign season. In a frenzied end, the General Assembly approved a new state budget and authorized a massive expansion of gambling.

But they're not finished.

The collapse of pension reform means lawmakers will probably return to Springfield this summer. This recap is from Amanda Vinicky in Springfield.

Amanda Vinicky contributed reporting from Springfield.

Illinois lawmakers will take a shot today at passing a massive overhaul of the state's pension system.

It's a move permitted by a surprise decision last night by House Speaker Michael Madigan, who handed control of the measure over to the top Republican in the House, Tom Cross.

Reporting from Amanda Vinicky was used in this story.

Like its counterpart in Missouri, the Illinois General Assembly is heading into the home stretch.

Lawmakers there have a bit more time to get through their agenda - their session isn't scheduled to end until the end of May. But unlike lawmakers in Missouri, Illinois legislators have a monumental task in front of them - passing a state budget.

Most state agencies will have their budget cut by 9 percent.

With a Friday deadline looming, Missouri lawmakers finally reached a compromise on putting the final touches on the state budget.

The agreement addresses veterans’ homes, university funding and other sticking points:  First, budget negotiators agreed to spread an additional $3 million among several universities, including Southeast Missouri State, and dropped a proposal to give $2 million to that school alone.  Also, lawmakers will have to craft a Higher Education funding formula by the end of next year, which would be implemented in July 2014.