Legislative Update -- May 30, 2024
May 30, 2024
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On early Thursday morning, the Illinois House of Representatives concurred with budget and companion legislation that the Illinois Senate recently sent to it to complete the FY2025 appropriations process. The FY2025 state budget will spend approximately $53.1 billion.
Contained within the 1300-page revenue omnibus amendment, which was approved yesterday at 4:30 a.m., is our proposal lowering a library treasurer bond from 50% to not less than 10% of the total funds received by a library in the previous fiscal year. For various reasons, leadership chose to package this and numerous other stand-alone concepts into one amendment that was considered on the final night of this year's spring session.
Over the next several days, ILA will analyze the budget for impact and will report appropriate updates.
The Illinois General Assembly will schedule its fall veto session dates later this summer, and after it does, we will finalize our autumn legislative meetup dates to discuss the association's 2025 legislative priorities, for which discussion is currently underway. ILA thanks its Public Policy and Advocacy Committee members for helping pass our treasurer bond bill through the legislature.
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