Ward Room
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Pension Vote Crowds Out House Incentive Bill, For Now

The House adjourned on Tuesday without voting on corporate tax breaks

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Pension Vote Crowds Out House Incentive Bill, For Now

Democratic House Speaker Michael Madigan spoke with the press briefly after a meeting on Pension reform Saturday afternoon.

Tuesday’s dramatic vote on fixing Illinois’ pension crisis has delayed a bill to give millions in corporate tax breaks to three companies seeking to locate their headquarters in Illinois.

Archer Daniels Midland Company, chemical distributor Univar and newly-merged OfficeMax and Office Depot are all seeking help to either keep or move their headquarters to Illinois.

Two bills passed the Senate Tuesday, one giving ADM up to $30 million in tax breaks, the other offering $58 million for Univar and OfficeMax.

However, the House adjourned after a pension vote without taking up the Senate’s bills.

ADM in particular is seeking a fast resolution of its issue. Gregory Webb, ADM vice president for state government relations, on Monday said "We need a decision by the end of ‘13 so now is the time."

Asked Tuesday about a timetable for when the House may move on ADM’s demand, however, House Speaker Michael Madigan was noncommittal.

ADM has said it wants to move its headquarters from downstate Decatur to a more “global” city, particularly Chicago.

On Monday, a House committee considered another plan giving roughly $92 million in incentives to all three companies, paid for in part by a proposed a satellite television tax.
 

Related Topics ADM, Chicago, Madigan
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