Illinois quick hits: SBA sues Chicago over online betting tax

By Jim Talamonti | The Center Square
The Center Square

Illinois to receive rural health-care funding

The federal government has awarded Illinois $193.4 million per year for five years to expand healthcare access in rural areas.

The Illinois Department of Healthcare and Family Services outlined three key categories of initiatives for the federal taxpayer-funded Rural Healthcare Transformation Program fund: transforming rural healthcare delivery, overcoming geographic barriers of care, and building a resilient rural healthcare workforce.

SBA sues Chicago over online betting tax

The Sports Betting Alliance (SBA) has filed a lawsuit against Chicago for the city’s new tax on online sports wagering.

The SBA complaint filed in the Circuit Court of Cook County Tuesday claims that the state of Illinois has sole authority to license and tax online sports wagering in the state.

The SBA filed but then withdrew a motion for a temporary restraining order after it said the city moved quickly to maintain the operations of legal platforms that provide customer protections not available in the illegal market.

Fed Financial Condistions Index falls

The Federal Reserve Bank of Chicago’s National Financial Conditions Index (NFCI) decreased to –0.57 in the week ending Dec. 26, suggesting looser financial conditions where credit is considered to be easier and cheaper for businesses and consumers.

The index updates U.S. financial conditions in money markets, debt and equity markets, and traditional and “shadow” banking systems. The Chicago Fed’s district includes all of Iowa and most of Illinois, Indiana, Michigan and Wisconsin.