Chicago on a Revenue Roll From Cloud and Netflix Taxes – Bloomberg Law

Revenue from Chicago’s one-of-a-kind tax on cloud computing is about four times what it was five years ago, bringing in nearly $120 million last year, according to figures provided by the city’s Office of Budget and Management. The city’s tax on streaming entertainment has more than tripled over that period as consumers ramped up their subscriptions to services such as Netflix for video, PlayStation for gaming, and Spotify for music. The city collected more than $30 million in taxes on streaming services for the current year.

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Lightfoot sets aggressive timetable for forging ahead on Chicago casino – Chicago Sun-Times*

“We’re very, very interested in moving this process along as expeditiously as possible because, as you know, the revenue from that casino will fund our police and fire pensions and no time [like] the present for that,” Mayor Lori Lightfoot said Friday. Police and fire pension funds are hovering dangerously close to insolvency, and mounting police retirements are putting even more pressure on the police pension fund.

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Illinois to get at least $17 billion from the Biden infrastructure bill; could be more – Chicago Sun-Times*

If all goes as planned, broadband internet access in a few years will be accessible everywhere in Illinois, just like electricity. There will be enough electric charging stations up and running to reduce or eliminate range anxiety, a major barrier to cleaner climate electric car sales. Water quality will be improved with the removal of lead pipes, a particular problem in Chicago and Cook County.

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Illinois considers funding ‘implicit bias’ and ‘antiracism’ training in schools – Just the News

A draft proposal from the Illinois State Board of Education Professional Review Panel set to be considered next month contemplates how to spend an additional $350 million from the evidence based funding model that lawmakers approved several years ago. “The education requirements and recommendations coming out of ISBE have been more and more progressive, more and more pushing a social agenda,” state Rep. Avery Bourne said.

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Chicago Police Pension Costs Seen Swelling With Proposed Law – Bloomberg

State Sen. Robert Martwick is preparing to push legislation in 2022 to change eligibility restrictions for cost of living adjustments for police retirees, saying current law understates the impact of those costs. The new law would bring rules for police in line with firefighters, and make the city’s future costs more transparent, he said. Chicago officials oppose the measure, calling it a burden. The extra liabilities added would be “unaffordable,” said city Chief Financial Officer Jennie Huang Bennett.

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UIC: Increase In Working From Home Could Depress Commercial Real Estate Prices, Reduce Local Tax Revenue – Patch Chicago

The study examines eight major cities (Atlanta, Austin, Charlotte, Chicago, Los Angeles, Miami, New York and San Francisco); In these cities, commercial real estate accounts for an average of 37% of property taxes. “Cities and their surrounding areas are key drivers of economic activity,” said David Merriman, of the College of Urban Planning and Public Affairs at UIC. “The pandemic’s effect on working arrangements will have a long-term effect on the fiscal health of local governments.”

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