Shared municipal revenues spared state budget ax, at least for now

Homewood and Flossmoor, along with other Illinois municipalities, were spared a substantial revenue cut Thursday when the General Assembly passed a quick-fix deal designed to plug a $1.6 million hole in the state budget.

But Thursday’s deal only covers state expenses through the end of June; Illinois lawmakers begin work next month on the budget for the 2016 fiscal year, which starts in July. Gov. Bruce Rauner has called for a 50 percent cut in the shared municipal revenues – they are distributed through the Local Government Distributive Fund (LGDF) – and his proposal remains very much on the table…Please click here to read Tom Houlihan’s story in the Chronicle.