Legislation also balances individual and corporate ratio at 1:1, applying the same progressive formula for both individual and corporate taxpayers

Springfield, IL - Sen. Don Harmon (D-Oak Park) has moved forward new legislation tying a specific rate structure to his Fair Tax Act proposal, including a fixed rate structure that would provide a tax relief for 94% of Illinoisans, including everyone making up to $205,000. Filing of SB350 marks another key step forward for a Fair Tax, which would replace Illinois' antiquated, regressive flat tax with fairer rates, while maintaining adequate revenue to protect vital investments in education, health and human services, and public safety.

Harmon's bill also equalizes the individual and corporate tax ratio at 1:1, applying the same graduated formula to both corporations and individuals?a tax cut for all businesses currently paying the 7% flat rate. Under the proposed rate structure, with lower rates for lower incomes and higher rates for higher incomes, the median individual Illinois taxpayer earning $55,137 annually would receive a tax cut of $303.

Harmon said he was incredibly encouraged by the surge of support for putting a Fair Tax on the November ballot for citizens to decide following his introduction of a rate structure, and the addition of Rep. Christian Mitchell as chief sponsor on the House side.

"The introduction of a rate structure that offers tax relief for 94% of Illinoisans while preventing draconian cuts to vital services that would result from Illinois driving off the impending fiscal cliff has been an absolute game changer," said Harmon.  "People understand this is fundamentally all about fairness."

"Just as the statewide grassroots movement of citizens supporting a Fair Tax has been surging for months, my House colleagues are now taking a hard look at the choices in front of them and many see that this is a third way?a way to provide the services people need and to do so in a way that provides tax relief for 94% of Illinois families," added Mitchell.

Polling shows that 77% of voters support a Fair Tax, with lower rate for lower incomes and higher rates for higher incomes. Since its introduction in 2013, a large and growing statewide coalition has grown in favor of a Fair Tax, and news analysis over the weekend confirms its place at the top of the legislative agenda as Springfield considers budget options for FY2015.

"The choices available today are bad for Illinois families: to extend a regressive flat tax or to cut 13,400 teachers from the classroom, to take 95,000 kids off of early childhood education, to say 'no' to 30,000 college students wishing to get a MAP grant, to close 11 prisons and release 15,000 prisoners, to lay off 3,000 corrections officers, to cut the state police by 30%. The Fair Tax is the third way," said Sen. Harmon.

Program Offers First-Time Homebuyers Down-Payment Assistance and a 3.75 Percent Interest Rate on a 30-Year Fixed Mortgage

CHICAGO - Two weeks after first launching the Welcome Home Illinois loan program, Governor Pat Quinn is traveling to cities across Illinois to raise awareness of the program, discuss its benefits and explain how people can participate. The Governor is visiting Chicago, Rockford, the Quad Cities and Peoria to discuss the impact first-time homebuyers have on the state's economy and urge them to act fast while the program is available. The events are part of Governor Quinn's agenda to drive economic growth by making homeownership more affordable in Illinois.

"Welcome Home Illinois is helping first-time homebuyers afford their first home and we want to make sure that everyone who qualifies gets a chance to participate," Governor Quinn said. "This program will help give hardworking men and women the opportunity of homeownership that they deserve, and help drive our economy forward."

The new loan program is administered through the Illinois Housing Development Authority (IHDA) and provides first-time homebuyers $7,500 in down-payment assistance with an interest rate as low as 3.75 percent for a secure, 30-year fixed rate mortgage. Generating interest at a faster pace than other IHDA programs, the timing is perfect for Welcome Home Illinois, tailored to working families, with borrower income limits up to 140 percent of the area median income (AMI) as the spring buying cycle hits its stride. For example, a family of three in Cook County could qualify even if earning as much as $106,000 in annual household income, and a family of three in Rockford could qualify with an annual household income of $90,020.

Following an overwhelming response to the launch of the program, more than $19.7 million in financing has been reserved as residents lock in $7,500 in down-payment assistance and below-market rates. Many house hunters are already flooding the housing market during the spring buying season. More than 24,000 have visited the Welcome Home Illinois website and local home buyers are quickly recognizing the program for its historically low rates, currently at 3.75 percent, which is well below the benchmark 30-year fixed-rate mortgage at 4.47 percent.

"We know it is time to get our own home to meet the needs of our family, but we weren't sure where to start or how we could afford it," Nick Ng, Chicago resident and prospective first-time home buyer, said. "Learning we pre-qualified for the Welcome Home Illinois program really opened the door to the possibility of homeownership for us."

Nick and his wife have been married for seven years and are parents to four young children. Hearing impaired and working as a graphic designer at Roosevelt University, Nick will soon experience the important milestone of moving out of a relative's home and into one he can finally call his own.

"Families across the state are quickly recognizing Welcome Home Illinois as a perfect first step to becoming a homeowner," IHDA Executive Director Mary R. Kenney said. "With 175 reservations made in the program's first 14 days, it's truly gratifying to see this program help real people realize their dream of home ownership, helping them to build a better future and leading to a stronger overall economy in Illinois."

According to the Illinois Association of Realtors (IAR), every home sold generates two jobs and $60,000 in ripple effects to the overall economy. This impact has already been realized statewide with other IHDA programs. In 2013, 3,000 families purchased homes through one of IHDA's programs, generating 1,500 jobs and infusing $70 million into Illinois' economy. Projections show that even just a 15 percent increase in 2014 could generate an additional 1,725 jobs and infuse another $10 million into Illinois' economy.

Welcome Home Illinois is open to qualified Illinois first-time homebuyers on a first-come, first-serve basis. The program is funded through Illinois Jobs Now! and the Illinois Affordable Housing Trust Fund. In addition to creating homeownership opportunities, the Welcome Home Illinois loan will stimulate statewide economic activity and will generate an estimated:

•       1,500 full-time jobs.

•       $50 million from real estate-related industries.

•       More than $40 million in economic activity for the state.

•       Additional $16 million in other statewide spending.

With funding quickly being reserved, interested homebuyers can find additional details about the program and a list of 100 lenders at welcomehomeillinois.gov.

Jordan fourth grade students have collected Peanut Butter, Jelly, and Crackers for their Lenten service project "Peanut Butter & Prayers." The food will be donated to the St. Vincent De Paul Food Pantry to serve as a healthy snack for children. The Jordan students pray each day for all children in our community who go to bed hungry.

Fr. Jeremy Freehill will visit Ms. Debbie Patronagio's 4th grade classroom at 9:00 a.m. this Thursday April 17th to accept the donation.

EASTERN IOWA MENTAL HEALTH AND DISABILITY SERVICES REGION

Governing Board of Directors Meeting

Scott County Administration Building

Room 605

April 21, 2014

3:00 PM

1. Roll Call

2. Approval of Minutes

2. Appointment of Fiscal Agent

2. Gender Balance

2. Website

2. Contracts

2. Insurance

2. Legislative Update

2. CEO Report

2. Other Items

2. Public Comment

2. Adjournment