Illinois rainy-day legislation advances – The Bond Buyer

Illinois' budget and pension stabilization funds would receive automatic deposits when the state hits revenue growth and bill payment triggers under legislation that cleared a House committee this week. With a series of infusions over the last two fiscal years, the state's once-depleted rainy-day fund remains on track to hit $1.9 billion by the end of the current fiscal year on June 30, but more is needed to reach a healthy level on par with other states, state Comptroller Susana Mendoza told the House's State Government Administration Committee.