Illinois : State Data and Comparisons : Data-Z

Illinois

TIA Data

2023 Financial State of Illinois (Released 10/03/2024)

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Illinois owes more than it owns.

Illinois has a -$37,000 Taxpayer Burden.™

Illinois is a Sinkhole State without enough assets to cover its debt.

Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.

Illinois only has $51.8 billion of assets available to pay bills totaling $227.2 billion.

Because Illinois doesn't have enough money to pay its bills, it has a -$175.4 billion financial hole. To fill it, each Illinois taxpayer would have to send -$37,000 to the state.

Illinois's reported net position is understated by $9.4 billion, largely because the state delays recognizing gains resulting from decreases in retirement liabilities.

The state's financial report was released 411 days after its fiscal year end, which is considered untimely according to the 180 day standard.

Prior Years' TIA Data

2022 Financial State of Illinois

2021 Financial State of Illinois

2020 Financial State of Illinois

2019 Financial State of Illinois

2018 Financial State of Illinois

2017 Financial State of Illinois

2016 Financial State of Illinois

2015 Financial State of Illinois

2014 Financial State of Illinois

2013 Financial State of Illinois