August 25, 2017

To the Honorable Members of The Illinois Senate,

100th General Assembly:

Today, I veto Senate Bill 41 from the 100th General Assembly, which allows municipalities to assign, sell, or transfer their interest in funds received from the State. 

Illinois is suffering from one of the most mismanaged and overburdened public finance systems; ranking second worst in the United States by independent outlets. This bill would create a moral hazard that encourages additional borrowing at the local level, while prioritizing bonded debt at municipalities over the provision of services.

Therefore, pursuant to Section 9(b) of Article IV of the Illinois Constitution of 1970, I hereby return Senate Bill 41, entitled “AN ACT concerning finance,” with the foregoing objections, vetoed in its entirety.

Sincerely,

Bruce Rauner

GOVERNOR