Category: Business Law
Bears Advance Indiana Stadium Plans
The Chicago Bears have taken a significant step toward a potential move to Indiana after the team’s board of directors voted to advance plans for a new stadium development in Hammond. Although the organization has not announced a final site or entered into a definitive development agreement, the vote signals that Indiana has emerged as
Chicago’s Proposed Multi-Unit Building Single Staircase Ordinance
Chicago’s City Council is considering relaxing the city’s building code, which currently requires two staircases in all residential buildings three stories or taller. The proposed ordinance (2025-0017571) would allow new construction buildings up to five stories to have only one staircase. The purpose of the ordinance is to allow Chicago developers to build denser multi-unit
Chicago City Council Approves Two-Year Pause on the Elimination of the Tip Credit
On Wednesday, May 20, 2026, the Chicago City Council approved a compromise that pauses the city’s planned elimination of the tip credit for at least two years. At the time of the vote, Chicago’s standard minimum wage was $16.60 per hour, while the tipped minimum wage remained at $12.62 per hour, with the gap historically
Illinois Lawmakers Advance New Regulations for Data Centers
With the rise in data centers, states like Illinois are considering regulations to control the booming artificial intelligence sector. Data centers underpin the technological revolution, but critics worry they drain vital resources like water and electricity. Illinois lawmakers are drafting legislation to address these concerns. The Illinois Data Center Energy and Water Reporting Act
Springfield Delays Swipe Fee Law for Second Time After Bankers Push Back
Originally set to take effect on July 1, 2025, the Interchange Fee Prohibition Act (IFPA), which will prevent financial institutions and payment card networks from charging or retaining interchange fees on the tax and gratuity portions of credit and debit card transactions, has been pushed back by Illinois lawmakers another year for an effective date
New Illinois Laws in Effect July 1, 2025
Illinois’ new budget took effect at the start of Fiscal Year 2026, which fell on Tuesday July 1, 2025. Along with the new budget also comes new law and tax changes. The gas tax is set to increase by a rate of 1.3 cents per gallon, raising the tax to $0.483 per gallon. Tax on
Pritzker Signs 2026 Illinois State Budget into Law
Illinois Governor J.B. Pritzker signed six bills comprising the state’s Fiscal Year 2026 budget into law Monday, June 16th, the earliest provisions of which will take effect in roughly two weeks on July 1st. Whereas state budgets historically were passed in the form of a single omnibus bill, the budget for next year was passed
Despite Growing Economic Concerns, Lawmakers Continue to Fail Illinois Businesses
During the most recent legislative session, Illinois General Assembly members passed two bills that are likely to push more businesses out of the state rather than bring them in. Senate Bill 328 could change the way plaintiffs are able to sue foreign corporations, and Senate Bill 1976 would freeze workplace regulation standards in the year
Corporate Transparency Act
On March 2, The U.S. Treasury Department has announced a significant shift in the enforcement of the Corporate Transparency Act (CTA). Under the new policy, The U.S. Treasury Department will no longer enforce penalties or fines related to the beneficial ownership information (BOI) reporting rule under the existing regulatory deadlines. Furthermore, even after forthcoming rule changes take
Illinois Banking and Credit Industry Moves to Quash Law Prohibiting Card Swipe Fees
Banking and credit trade groups asked a Chicago federal judge late Monday to permanently overturn a law which would prohibit banks from collecting “swipe fees” on tax and tip portions of credit and debit card payment transactions. The Interchange Fee Prohibition Act, which was approved as part of Governor J.B. Pritzker’s 2024 budget legislation, stemmed from heavy