Ill. state legislature rejects CME/CBOE tax break, adjourns

Several news agencies are reporting that the Illinois House has just rejected a Senate bill that would have provided tax relief to CME Group and the Chicago Board Options Exchange. Both Chicago exchanges have indicated that they were prepared to move their headquarters if a deal could not be struck. The veto session ends tonight, as well as the current session for the Illinois legislature. Lawmakers are not scheduled to reconvene until 2012.

The House vote was eight in favor and 99 opposed. The Senate earlier approved the bill 36-18.

Illinois House rejects CME

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