Board of Commissioners of Cook County - File #: 15-4291

• File #: 15-4291
• Version: 1
• Name: RESOLUTION REGARDING PROPOSED AMENDMENTS TO THE COOK COUNTY’S HOME RULE RETAILER’S OCCUPATION AND SERVICE OCCUPATION TAXES
• Type: Resolution
• Status: Approved
• File created: 6/30/2015
• In control: Finance Committee
• On agenda: 7/1/2015
• Final action: 7/15/2015
• Title: PROPOSED RESOLUTION PROPOSED AMENDMENTS TO THE COOK COUNTY'S HOME RULE RETAILER'S OCCUPATION AND SERVICE OCCUPATION TAXES WHEREAS, Cook County Board President, Toni Preckwinkle ("President") and the Cook County Board of Commissioners successfully reduced Cook County's Retailer Occupation and Service Occupation Taxes (hereinafter referred to as "Sales Tax") in 2012 and 2013 to address the economic reality at that time and to promote and ensure operational efficiencies and a streamlined County government; and WHEREAS, the Sales Tax reduction implemented by the President and the Cook County Board of Commissioners allowed approximately one and a half billion dollars to remain in the pockets of Cook County taxpayers during the 2011 through 2015 fiscal years; and WHEREAS, the Sales Tax reduction led to a downsized workforce, a reduction in non-essential expenditures, enhanced collaboration resulting in a more streamlined County government, reductions in the County's Health System ...
• Sponsors: TONI PRECKWINKLE (President)

Date	Ver.	Action By	Motion	Result
7/15/2015	1	Board of Commissioners	approve	Pass
7/15/2015	1	Board of Commissioners	reconsider	Fail
7/15/2015	1	Finance Committee	amend	Fail
7/15/2015	1	Finance Committee	reconsider	Fail
7/15/2015	1	Finance Committee	recommend for approval	Pass
7/1/2015	1	Board of Commissioners	refer	Pass

title
PROPOSED RESOLUTION

PROPOSED AMENDMENTS TO THE COOK COUNTY'S HOME RULE RETAILER'S OCCUPATION AND SERVICE OCCUPATION TAXES

WHEREAS, Cook County Board President, Toni Preckwinkle ("President") and the Cook County Board of Commissioners successfully reduced Cook County's Retailer Occupation and Service Occupation Taxes (hereinafter referred to as "Sales Tax") in 2012 and 2013 to address the economic reality at that time and to promote and ensure operational efficiencies and a streamlined County government; and
WHEREAS, the Sales Tax reduction implemented by the President and the Cook County Board of Commissioners allowed approximately one and a half billion dollars to remain in the pockets of Cook County taxpayers during the 2011 through 2015 fiscal years; and
WHEREAS, the Sales Tax reduction led to a downsized workforce, a reduction in non-essential expenditures, enhanced collaboration resulting in a more streamlined County government, reductions in the County's Health System operating tax allocation, structured capital improvement plans, and a more efficient government; and
WHEREAS, the President and the County's Finance Team have undertaken preliminary budget briefings with members of the Cook County Board of Commissioners to discuss options to further streamline services as well as evaluate revenue opportunities; and
WHEREAS, given the fiscal challenges facing the County, additional expenditure reductions and new sources of revenue such as a property tax increase or a sales tax increase, are required to continue moving Cook County forward and to address its long term needs in a responsible manner so as not to unduly burden the children and grandchildren of current taxpayers with extensive debt and unfunded pension liabilities; and
WHEREAS, to serve the interests of current and future County residents and taxpayers, additional revenue opportunities and expenditure reductions are needed to address actuarially projected shortfalls associated ...