Legislative Update: Illinois Fiscal and Investment Developments
Recent developments in Springfield highlight continued efforts to strengthen Illinois' fiscal position and expand investment tools that support economic growth across the state.
Illinois Earns 11th Credit Rating Upgrade
Governor JB Pritzker recently announced that Moody's upgraded Illinois' general obligation bond rating to A1, marking the state's 11th credit rating upgrade since 2021 and its highest Moody's rating in nearly 15 years. The upgrade reflects sustained fiscal improvements, including balanced budgets, growth in the state's rainy-day fund, reduction of unpaid bills, and continued efforts to address long-term pension liabilities.
For Illinois businesses and investors, improved credit ratings can translate into lower borrowing costs for the state, increased financial stability, and a stronger environment for economic development and investment activity.
State Treasurer Granted Expanded Investment Authority
Governor Pritzker also signed SB 3086, legislation that expands the Illinois State Treasurer's investment options by allowing investments in certain pooled investment trusts meeting established eligibility requirements. Supporters of the legislation note that it creates additional opportunities to generate competitive returns while supporting development initiatives, including housing-related projects that align with the state's broader BUILD housing strategy.
The legislation has prompted discussion around innovative approaches to addressing housing affordability and expanding investment in community development projects. As policymakers continue to focus on housing supply and economic growth, IVCA will remain engaged in conversations about the role private capital can play in supporting responsible development, job creation, and investment across Illinois communities.
Welcome to New State Treasurer CIO Jacob Stuckey
IVCA also welcomes Jacob Stuckey, the newly appointed Chief Investment Officer for the Illinois State Treasurer's Office. The Treasurer's investment activities play an important role in Illinois' broader capital ecosystem, and IVCA looks forward to continuing a constructive dialogue with Treasurer's Office leadership on issues affecting investment, economic development, and capital formation throughout the state.
As always, IVCA will continue monitoring legislative and regulatory developments and advocating for policies that support a healthy private capital ecosystem and a competitive Illinois economy.