The State’s Capital Plan may still be in trouble—the major source of funding may not be allowed by local governments.
revolt against Illinois' new video-poker law is beginning to pick up a remarkable amount of support -- so much support that one key source says it could endanger the revenue stream needed to pay off billions in state infrastructure bonds.
The revolt, which so far has received remarkably little press attention, is led by big counties, which can ban gaming only in [un]incorporated areas. But the pitchforks are starting to come out in municipalities, too. …
First up is the DuPage County Board….in Will County…The board is to hold a committee-of-the-whole hearing on Thursday to begin deliberations. A similar ban in unincorporated Cook County will be submitted next month….Other sources expect action soon in Lake County….Rosemont, of Emerald Casino fame, last week became the first suburban Chicago municipality to outlaw video gambling….
Revenue from video poker will comprise about 40% of the funds needed to retire billions in state bonds for infrastructure that were authorized by the General Assembly earlier this year
Read the rest of the story by clicking on the following: Greg Hinz Blog | Crain's Chicago Business
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