Ill. lawmakers OK tax breaks, but no pension deal
SPRINGFIELD – Illinois lawmakers have approved tax incentives for Archer Daniels Midland Company and the newly merged OfficeMax and Office Depot, but they expect to end the fall session without action on the state's $100 billion pension shortfall.
The tax breaks advanced by a Senate committee Wednesday are aimed at getting the companies to keep their headquarters in Illinois.
They're worth $24 million for Decatur-based ADM and $53 million for Office Depot Inc., the new company to emerge from the merger of Naperville-based OfficeMax and Florida-based Office Depot.
House Speaker Michael Madigan said legislative leaders are working on a pension deal. He hopes lawmakers will return to Springfield before the end of the year to approve legislation.
Lawmakers also are considering stiffer penalties for felons and gang members who illegally carry guns.