Bill would privatize Illinois economic development agency

SPRINGFIELD (AP) — Legislation privatizing the state’s economic development agency and making the Abraham Lincoln Library and Museum a stand-alone agency is being considered in Springfield.

The proposal filed by Democratic House Majority Leader Barbara Flynn Currie on Monday merges two ideas backed by House Speaker Michael Madigan and GOP Gov. Bruce Rauner. Leaders are beginning to negotiate next fiscal year’s budget.

Madigan has advocated for the Lincoln Library to be a stand-alone agency instead of under the Historic Preservation Agency. Rauner, meanwhile, proposed during his successful campaign against former Democratic Gov. Pat Quinn turning the Department of Commerce and Economic Opportunity into a public-private partnership.

Rauner deputy chief of staff Mike Schrimpf tells Crain’s Chicago Business ( ) the bill would make economic development more “efficient and effective.”