HR0531LRB099 12587 GRL 36133 r


  
1
HOUSE RESOLUTION

  
 
2    WHEREAS, Illinois taxpayers spend hundreds of millions of 
3dollars each year on fees for financial services, which 
4contributes to the State's financial distress; and
  
 
5    WHEREAS, Fees for financial services are typically 
6arbitrary and bear no reasonable relationship to the costs that 
7firms incur for providing those services; and
  
 
8    WHEREAS, Every dollar that the State of Illinois and its 
9departments, authorities, agencies, and pension funds ("State 
10agencies") spend on financial services is a dollar that is not 
11available for funding essential public services like education 
12and healthcare; and

  
 
13    WHEREAS, The Governor has proposed $6.6 billion in funding 
14cuts; therefore, be it
  
 
15    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE 
16NINETY-NINTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we 
17urge the members of the General Assembly to not implement any 
18cuts to State aid to municipalities unless those cuts are 
19matched by equally proportionate reductions in fees for 
20financial services paid by State agencies, including fees for 
21all financial services, including cash management, investment 
 
 
HR0531- 2 -LRB099 12587 GRL 36133 r

1management, and debt management; and be it further
  
 
2    RESOLVED, That, if the General Assembly cuts State aid to 
3municipalities, we urge all State agencies to request that the 
4firms that provide them financial services reduce fees by an 
5equally proportionate amount; and be it further
 
6    RESOLVED, That we urge State agencies to not make any 
7payments to firms that refuse to reduce fees for financial 
8services by the set amount until they have first met all of 
9their other financial obligations, including fully funding 
10public services and State aid to municipalities, paying 
11workers, making pension fund contributions, and paying other 
12legitimate bills.