The Institute for Illinois Public Finance was created in 2018 to advance research and improve practice in the area of public finance in Illinois. Once a state known for its strong public finances and thriving economy, in recent years the state has experienced bouts of financial hardship. Due in part to a budget impasse that saw no state budget passed in fiscal years 2016 and 2017 (the fiscal year 2018 budget was also passed two months late) and in part due to a history of underfunding of pension systems and infrastructure investment at both the state and local government level, the state approaches the end of the 2010s in a fiscally perilous situation.
The Institute will produce non-partisan, unbiased, and high-quality academic and applied research on issues that impact Illinois public finance with a goal of improving the fiscal situation of the state’s governments. Read more about the activities of the Institute from the links on the left.