IVCA Provides Updates for State and Federal Legislative Issues - 07.05.17

IVCA Provides Updates for State and Federal Legislative Issues

UPDATE provided by Stricklin & Associates on July 5, 2017:

The General Assembly remains in continuous overtime session. On June 30th, the final day of the 2017 fiscal year, the House adopted Amendment 2 to Senate Bill 6, effectively their appropriations budget. House Republicans largely supported the measure as a sign of "good faith" and continued negotiations. 

On Sunday, the House passed the final version of the appropriations bill, following adoption of a third amendment. While House Minority Leader Jim Durkin and the Governors office were opposed to the final measure, it still received bipartisan support and passed with 81 votes. The budget passed Sunday contained over $3 billion in cuts over the Governor's introduced budget and was therefore supported by 15 Republicans. 

The House also passed their revenue bill, Senate Bill 9, with bipartisan support and 72 votes. The revenue bill includes a personal income tax increase to 4.95%.  

Through our efforts in Springfield, engaging with leadership, and your legislator outreach, we were successful in preventing the inclusion of the 20% "privilege tax" proposal. We were also successful in maintaining opposition that prevented the standalone bill (SB1719) to be called or amended. We will continue to monitor this issue as it could arise in any veto session or next session. 

The Senate passed both the spending and revenue bills on the 4th of July, and the Governor immediately filed his vetoes. The Senate overrode both vetoes later in the day, and the House is anticipated to override on Thursday July 6th at noon. 

The bills passed will fund social services, higher education, and a variety of other spending programs that have been hostage in the 2 year budget impasse. The budget will also substantially reduce the $15 billion unpaid bill backlog and prevent the state from reaching a junk status. 

It remains to be seen whether either chamber will remain in continuous session to address the outstanding reform issues. There have been continued negotiations on workers compensation, property taxes, and pension reform. The General Assembly is also still expected to send the Governor an education funding reform bill.

The bill in its current form will be difficult for the House to approve, but we know from speaking with legislators it’s valuable for them to hear from you and to know of your opposition to this legislation!
We still recommend contacting the following members of the Illinois House:
Representative Deb Conroy- 217.782.8158 [email protected] 
Representative Lou Lang- 217.782.1252 [email protected]
Representative Anthony DeLuca- 217.782.1719 [email protected] 
Representative Robyn Gabel- 217.782-8052 [email protected] 
Representative Laura Fine- 217.782.4194 [email protected]
Representative Scott Drury- 217.782.0902 [email protected] 
Representative Carol Sente- 217.782.0499 [email protected]
Representative Mike Zalewski- 217.782.5280 [email protected] 
Representative Elaine Nekritz- 217.558.1004 [email protected] 
Representative Jerry Costello- 217.782.1018 [email protected]
Representative Brandon Phelps- 217.782.5131 [email protected]
Sample Email

Subject: Vote “no” on SB 1719

Dear Rep.______;

The incredible growth in entrepreneurial jobs in Chicagoland over the last 10 years is directly attributable to the availability of venture capital funding backing great entrepreneurs.

In 2016 alone, 251 companies located Illinois received $1.3 billion in venture funding. The Chicago Entrepreneurial Ecosystem is finally hitting on all pistons.

If SB1719 passes, it is virtually guaranteed that all Illinois-based venture funds will move. Illinois needs more investors in private companies, not fewer.  Why would a single VC stay in Illinois when ANY other location in the country is 20% less expensive?

As a constituent in your district and a citizen who recognizes our state needs to encourage businesses to stay here and continue to provide great jobs to citizens in Illinois – particularly recent graduates; I respectfully request that you vote no on SB1719.

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