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Final_fy2013 Ctba Il Budget and Tax Primer

Final_fy2013 Ctba Il Budget and Tax Primer

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Published by Reboot Illinois
The Center for Tax and Budget Accountability analyzes the Illinois state budget for fiscal year 2014.
The Center for Tax and Budget Accountability analyzes the Illinois state budget for fiscal year 2014.

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Published by: Reboot Illinois on Apr 01, 2013
Copyright:Attribution Non-commercial

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04/01/2013

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The Illinois State Budgetand Tax Prime
March, 2013
70 East Lake Street, Suite 1700Chicago, IL •60601www.ctbaonline.org 
 
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©2013, Center for Tax and Budget Accountability
 
T
HE
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LLINOIS
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TATE
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UDGET AND
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 AX
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RIMER
 
Founded in 2000, the Center for Tax and Budget Accountability is a non-profit, bi-partisan research and advocacythink tank committed to ensuring that tax, spending and economic policies are fair and just, and promoteopportunities for everyone, regardless of economic or social status.CTBA uses a data-focused, bipartisan approach to work in partnership with legislators, community groups and otherorganizations to help change both public policy and perceptions.
FOR MORE INFORMATION:
Ralph M. MartireExecutive Director(312) 332-1049rmartire@ctbaonline.org Robert OtterEducation and Fiscal Policy Analyst(312) 332-2151rotter@ctbaonline.org Amanda KassPolicy Research Specialist,Pensions and Local Government(312) 332-1103akass@ctbaonline.org Jennifer R. LozanoResearch Associate(312) 332-1348 jlozano@ctbaonline.org 
Center for Tax and Budget Accountability 
70 E. Lake Street, Suite 1700Chicago, Illinois60601Fax: (312) 578-9258www.ctbaonline.org 
 
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©2013, Center for Tax and Budget Accountability
 
T
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LLINOIS
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UDGET AND
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RIMER
 
 T
ABLE OF
C
ONTENTS
Section 1 Why Care About the Illinois State General Fund Budget? ........................................................................... 1Section 2 The Scope of the Current Problem ................................................................................................................... 1Section 3 Key Terms ............................................................................................................................................................... 2Section 4 How Illinois Stacks Up ........................................................................................................................................... 3Section 5 The Illinois State Budget at a Glance ............................................................................................................... 7Section 6 The FY2013 General Fund Budget ..................................................................................................................... 8Section 7 The Appropriation Process and New Developments in State Budgeting ................................................ 10Section 8 FY2013 Service Appropriations at a Glance ................................................................................................. 12Section 9 Spending Trends ................................................................................................................................................. 12(a)
 
Impact of Inflation ...................................................................................................................................... 12(b)
 
Spending on Services in the FY2013 General FundEnacted Budget Compared to FY2000 .................................................................................................. 13Section 10 Illinois’ FY2013 Operating and Ongoing Structural Deficits......................................................................... 14(a)
 
Accumulated Deficit ................................................................................................................................. 15(b)
 
Illinois’ Structural Deficit ............................................................................................................................. 15(c)
 
Looking Forward ......................................................................................................................................... 15Section 11 FY2013 Enacted Budget Appropriations by Major Category .................................................................... 17(a)
 
Human Services .......................................................................................................................................... 17(b)
 
FY2013 Education Appropriations............................................................................................................ 20(c)
 
Higher Education ........................................................................................................................................ 24(d)
 
Healthcare Overall ..................................................................................................................................... 25(e)
 
Medicaid ...................................................................................................................................................... 27(f)
 
Repayment of Debt Owed to the PensionSystems Strains Existing Fiscal Resources ................................................................................................. 29Section 12 Bonds and Debt ................................................................................................................................................. 34Section 13 Illinois Taxes and Fees ........................................................................................................................................ 37(a)
 
Overview of Primary Revenues Sources Usedto Fund State and Local Governments Generally ............................................................................... 37(b)
 
 The Elements of a Sounds, Modern Tax System..................................................................................... 39(c)
 
Current Illinois Tax Policy is Inadequate to Satisfy thePrinciples of Sound, Sustainable Taxation .............................................................................................. 40Section 14 Income Taxes in Illinois ....................................................................................................................................... 40(a)
 
Individual Income Tax ................................................................................................................................ 40(b)
 
As Designed, the Personal Income Tax is Neither FairNor Responsive from a Tax Policy Standpoint ....................................................................................... 41(c)
 
Corporate Income Tax .............................................................................................................................. 44Section 15 The Illinois Sales Tax ............................................................................................................................................ 44

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