Assessing the State and Local Sector—Where Will the Money Come from?

May 12, 2009
Federal Reserve Bank of Chicago
230 S. LaSalle Street
Moskow Auditorium, 3rd Floor
Chicago, IL 60604

Tuesday, May 12
7:30 a.m.		Registration and Continental Breakfast
8:20 a.m.		Welcome and Opening Remarks William A. Testa, Vice President and Director of Regional Programs, Federal Reserve Bank of Chicago Scott Pattison, Executive Director, National Association of State Budget Officers J. Fred Giertz, Chair, Economics Department, University of Illinois, and Executive Director, National Tax Association
8:30 a.m.		Session I: Revenue Performance over the Business Cycle Moderator Richard Mattoon, Federal Reserve Bank of Chicago Revenue Bubbles and Structural Deficits: What's a State to Do? Leslie McGranahan, Federal Reserve Bank of Chicago Richard Mattoon, Federal Reserve Bank of Chicago Discussant Comments Michael Pagano, Dean, School of Public Administration, University of Illinois–Chicago
9:30 a.m.		Session II: Are Assets Sales a Good Way to Meet Immediate and Mid-Term Budget Gaps? Moderator William A. Testa, Vice President and Director of Regional Programs, Federal Reserve Bank of Chicago Chicago's Use of Asset Sales and Leases—The Chicago Skyway and Parking Meter Leases Gene Saffold, Chief Financial Officer, City of Chicago State Government Use of Asset Leases Scott Pattison, Executive Director, National Association of State Budget Officers The View from a Non-Partisan Budget Watchdog Laurence Msall, President, Civic Federation
10:45 a.m.		Break
11:00 a.m.		Session III: Panel Discussion: Obama Fiscal Stimulus Program for the States Moderator Michael McCabe, Director, The Council of State Governments Midwestern Office Impact of the Federal Stimulus Program on Illinois Ginger Ostro, Director, Office Management Budget, State of Illinois Use of Federal Stimulus Dollars in the Chicago Regional Economy Randy Blankenhorn, Executive Director, Chicago Metropolitan Agency for Planning Academic Perspective: A New Fiscal Federalism? J. Fred Giertz, Chair, Economics Department, University of Illinois and Executive Director, National Tax Association The State Response to the Fiscal Stimulus Plan Donald Boyd, Senior Fellow, Rockefeller Institute of Government
12:15 p.m.		Lunch
1:30 p.m.		Session IV: Access to Capital—What Does the Debt Landscape Look Like? Moderator Leslie McGranahan, Federal Reserve Bank of Chicago The Changing Landscape of Public Sector Debt Financing Carl Tannenbaum, Vice President, Risk Specialists Division, Federal Reserve Bank of Chicago A State Agency's Perspective on Capital Access Geoffrey Cooper, Director, Single-Family Homeownership, Wisconsin Housing and Economic Development Authority The View From the Investment Community John Miller, Chief Investment Officer, Nuveen Asset Management
3:00 p.m.		Adjourn Last Updated: May 15, 2009