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Mayor McNamara joins Stadelman on behalf of River Edge Tax Credit

stadelman 042618SPRINGFIELD – Rockford Mayor Tom McNamara joined State Senator Steve Stadelman (D-Rockford) in the Illinois Senate Revenue Committee to testify in support of legislation that would make it easier for developers to invest in downtown Rockford.  

Stadelman’s proposal, Senate Bill 3527, adjusts River Edge Zones in Rockford, Aurora, East St. Louis, Elgin and Peoria to provide additional incentives for redeveloping these communities.
 
“These tax credits have a proven record of spurring economic growth in areas like downtown Rockford,” Stadelman said. “These additional changes will promote even more economic development in our communities.”
 
Under Stadelman’s proposal, developers would be eligible for a one-time 25 percent credit of the eligible expenses of the project. They would also be subject to additional oversight to ensure they qualify for the tax credits.

The legislation passed the Illinois Senate Revenue Committee with a vote of 6-0. It will now be heard by the full Senate.


Caption: Rockford Mayor Tom McNamara joined State Sen. Steve Stadelman in the Illinois Senate Revenue committee in support of Senate Bill 3527

Stadelman advances proposal to educate students on college debt

stadelman 042418SPRINGFIELD –College students would be able to make more informed financial decisions about their education under a measure State Senator Steve Stadelman (D-Rockford) passed through the Illinois Senate today.

Stadelman’s proposal, Senate Bill 2559, creates a three-year pilot program that requires each public university and community college to send an annual letter detailing the current loan and annual repayment amounts to all students with college loans.

“Every year, thousands of Illinois students graduate from college and are faced with tens of thousands of dollars in student loans. For many of these students, it’s the first time they completely realize the full expense of their education,” Stadelman said. “This proposal ensures students know up-front how much they will owe and gives them the information to make smart financial decisions early to save money in the long run.”

Student loan debt in the United States has skyrocketed from $833 billion to an all-time high of $1.4 trillion, according to recent studies. On average, college students graduate with over $34,000 in debt, up 62 percent in the last decade.

In 2012, Indiana University began sending new and returning students a letter projecting the amount of debt they were expected to graduate with, along with what their monthly payments would be. After implementing this system, the university saw a decline in the amount of education loans taken out by students. The state of Indiana passed a similar law to cover all state universities and community colleges in 2015.

Stadelman’s bill passed the full Senate with a vote of 51-1. It will now move to the Illinois House of Representatives for consideration.

Stadelman proposal to increase transparency on car rental agreements advances (VIDEO)

stadelman 041918SPRINGFIELD – With the proliferation of cashless tolls, State Senator Steve Stadelman (D-Rockford) advanced a proposal that offers protection for rental car drivers. After returning a rental car, many drivers may be surprised to find they were charged additional fees for a tollway collection device, similar to an I-PASS. Stadelman advanced a proposal through a Senate committee today to allow drivers to opt-out of using these devices.

“Drivers deserve to know up front what they are paying for, instead of finding out when it is already too late,” Stadelman said.

Stadelman stands up for hungry students (VIDEO)

school lunchSPRINGFIELD – In many school districts, students who are unable to pay for lunch can be stigmatized with a special wristband or handstamp, and in some cases – even denied lunch.

To stop this practice known as “lunch shaming” in Illinois, State Senator Steve Stadelman (D-Rockford) passed Senate Bill 2428 through the Illinois Senate Education Committee today.

“Lunch shaming punishes kids for the mistakes of their parents,” Stadelman said. “Every student, no matter what their background or parents’ income level, deserves to eat. In some cases, this may be the only hot meal the students eat all day.”

Sen. Steve Stadelman

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34th Legislative District

Years served: 2013 - Present

Committee assignments: Financial Institutions; Higher Education; Public Health; Revenue; Telecommunications & InfoTechnology (Chairperson); Transportation.

Biography: Earned a bachelor's degree in journalism from the University of Wisconsin-Madison. Worked as a news anchor/reporter for WTVO-Channel 17 for 25 years, In 2003, his coverage of the state's death penalty earned him an Associated Press award for Best Documentary.

Associated Representatives:
John M. Cabello
Maurice A. West II