UPDATE, 8:28 p.m.: Never mind. They just voted it down again.

UPDATE, 8:22 p.m.: The Senate right now it making another attempt at this bill, and there are indications it will pass this time. They’re debating it on the floor. Stand by. -KM

SPRINGFIELD, Ill - In a surprise development that will complicate Illinois’ looming budget crisis, the state Senate just now voted down a $2 billion pension-borrowing plan that would have prevented deep cuts to human services programs.

Here are the details of the borrowing plan, as we reported last night after it passed the House.

Its failure in the Senate means the state is back to square one in trying to chip away at an estimated $9 billion budget deficit in the fiscal year that starts Wednesday. In theory, Illinois could be looking at a grinding halt in state services if Gov. Pat Quinn and other leaders don’t reach agreement in the coming hours or days.

The borrowing bill is SB415. It failed by two votes, so there is still the possibility they could try again. The Senate is still meeting at this writing.