Illinois State Budget Updates
- The legislature passed a FY2021 State Budget (Senate Bill 264/Public Act 101-0637) of approximately $42 billion, which included no cuts to Medicaid eligibility, benefit or reimbursement levels.
- The approved budget also creates a new Coronavirus Urgent Remediation Emergency (CURE) fund in response to the ongoing expenses associated with the COVID-19 pandemic. Over $800 million of CARES Act funding was appropriated to this fund for pandemic related stability payments for healthcare providers.
- Other important budget items include:
- SB2541/ Public Act 101-0650 which reauthorizes the Hospital Assessment Program. The $3.8 billion plan went into effect July 1, 2020
- HB64/ Public Act 101-0638 – reappropriates $200 million for the Hospital & Healthcare Transformation Capital Investment Program
What’s the issue?
- This is Governor Pritzker’s second budget, passed during an unprecedented pandemic and economic crisis.
- The Governor inherited a $15 billion backlog of past due bills. His first budget began to stabilize the state’s finances and as of Aug 2020, the current backlog is $5.7 billion. You can track progress made on paying the backlog via the Illinois Comptroller’s debt transparency reports here.
- The impact of the COVID-19 pandemic on the economic is threatening that progress. The state is estimated to have a $7.4 billion budget deficit and is depending on potential federal stabilization dollars.
- The budget authorizes Governor Pritzker to borrow up to $5 billion from the Federal Reserve’s Municipal Liquidity Facility if Congress fails to enact COVID stabilization funding for state and local governments
Why does it matter?
- The state budget is critical for programs that serve the most vulnerable in Illinois.
- Illinois already has the lowest credit rating of any U.S. state.
What is the AMITA Health perspective?
- AMITA Health and the communities we serve are directly impacted by the budget.
- Illinois must be a good steward of taxpayer dollars to serve vulnerable populations.
Featured news includes articles from multiple viewpoints and is designed to keep you abreast of the current debate around this issue. This information should not be construed as our point of view.
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