Collections include $244 million for state pension systems
CHICAGO, IL â€“ Illinois Attorney General Lisa Madigan announced that her office collected a record-breaking $1.3 billion in 2014 on behalf of the State of Illinois.
Through a combination of litigation and collection efforts, Madiganâ€™s office generated over $43 for every general revenue dollar appropriated to the office in 2014. Since Madigan took office, total collections have reached over $11 billion.
â€œMy office works to maximize revenue to support critical programs and services, and last year we generated a record-breaking total while operating with the lowest level of taxpayer funding in over a decade,â€ Madigan said. â€œGiven the stateâ€™s fiscal crisis, weâ€™re doing everything we can to generate much-needed funds for the state.â€
Madiganâ€™s office operated in 2014 with an appropriation from the stateâ€™s general revenue fund of $30,843,200 â€“ which remains lower than the level of funding that the office received in 1997. Attorney General Madiganâ€™s office generated $43.24 for every state general revenue dollar the office received in 2014.
In 2014, the Attorney Generalâ€™s office generated nearly $344.8 million through collections litigation for damage to state property, child support, unpaid educational loans, fines and penalties. In addition, the Attorney Generalâ€™s office collected $306.8 million through tobacco litigation and $317.6 million in estate tax revenues.
Overall, the Attorney Generalâ€™s office collected a total of $1,333,711,626.07 in 2014. In addition to the collections, tobacco and estate tax revenues generated in 2014, Madiganâ€™s office secured millions stemming from her aggressive litigation efforts on behalf of the state. Madigan returned $244 million last year to the stateâ€™s pension systems to cover losses sustained from investments in mortgage-backed securities that contributed to the 2008 economic collapse, bringing her total state pension system recoveries to nearly $400 million. Additionally, Madiganâ€™s office secured nearly $120 million in 2014 through settlement agreements with several major pharmaceutical manufacturers for defrauding the stateâ€™s Medicaid program by inflating wholesale prices. In an ongoing effort, Madiganâ€™s office also has secured almost $100 million in unpaid gasoline sales taxes through a joint enforcement initiative with the Illinois Department of Revenue. This pending effort aims to crack down on gas station owners who have evaded paying sales taxes by falsely under-reporting sales figures, causing the loss of millions of dollars in state tax revenue.