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Governor Pritzker has proposed a 6-year, $41.5 billion capital plan, titled “Rebuild Illinois” that includes funding for both horizontal (transportation related projects) and vertical construction projects.
The proposal released on Friday includes the following funding allocations for capital projects:
The proposal also included proposed funding mechanisms that include a combination of bonding and $1.8 billion in new or higher taxes.
The plan released Friday also lists some of the proposed construction projects throughout the state. The Pritzker Administration has stated this proposal is a continued work in progress and all projects and funding mechanisms will continue to be debated with stakeholders. The proposals listed here will likely change as lawmakers and other interested parties continue to hash out the details of a final capital plan. We anticipate seeing the Governor’s capital plan introduced as legislation within the next couple of days. As a reminder, the Illinois General Assembly is scheduled to adjourn May 31st. Lawmakers have a lot of work to complete in the next eleven days.
Yesterday's live webinar on Unfunded Pension Liability has been recorded and is now available in the Education section.
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