Budget & Taxes

in committee · Illinois · House Mar 27, 2026

HB 4134: PROP TX-PERSONS W/DISABILITY

Amends the Property Tax Code. Provides that, beginning with taxable year 2026, the amount of the homestead exemption for persons with disabilities shall be the greater of (i) $2,000 or (ii) an amount that, when deducted from the property's value as equalized or assessed by the Department of Revenue, will cause the total aggregate property tax liability for the property for the taxable year for which the exemption is claimed to equal a specified base amount. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases property tax exemption for disabled persons, reducing their tax liability, aligning with tax relief indicators for vulnerable groups.95% confidence ✓ HousingSupports HousingProvides property tax relief for disabled homeowners, reducing housing costs and supporting affordability for a specific group within housing policy.75% confidence

Sub-Topics Property Tax Property Taxes

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in committee · Illinois · House Mar 27, 2026

HB 4080: INC TX-CREDIT-SECURITY-JUDGES

Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2026, a taxpayer who is an eligible member of the judiciary is allowed an income tax credit in an amount equal to the qualified security expenses incurred by the taxpayer during the taxable year. Specifies that the credit may not be carried back and may not reduce the taxpayer's liability to less than zero. Provides that, if the amount of the credit exceeds the taxpayer's tax liability for the taxable year, then the excess may be carried forward and applied to the tax liability of the 5 taxable years following the excess credit year. Requires the tax credit to be applied to the earliest year for which there is a tax liability. Provides that, if there are credits for more than one year that are available to offset a liability, the earlier credit shall be applied first. Defines the terms "eligible member of the judiciary", "federal judge", and "qualified security expense". Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides targeted tax credit for judiciary security expenses, reducing taxable income for eligible members. This constitutes tax relief within Budget & Taxes policy area.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Illinois · Senate Oct 15, 2025

SB 1862: PROP TX-30 YEAR HOMESTEAD

Amends the Property Tax Code. Establishes a homestead exemption for qualified homestead property that has been continuously owned, used, and occupied as the primary residence by the qualified taxpayer for at least 30 years any time prior to January 1 of the taxable year for which the exemption would apply. Requires taxpayers who have been granted an exemption to reapply on an annual basis. Provides that the assessor or chief county assessment officer may determine the eligibility of residential property to receive the homestead exemption by application, visual inspection, questionnaire, or other reasonable methods. Sets forth provisions concerning the review of exemptions granted under the provisions. Defines "qualified homestead property" and "qualified taxpayer". Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax exemption for long-term homeowners, reducing tax burden for qualifying residents per Property Tax Code amendment.95% confidence

Sub-Topics Property Tax

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in committee · Illinois · House Oct 15, 2025

HB 4151: USE/OCC TX-CLOTHING

Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that the rate of tax on clothing with a selling price of less than $100 shall be 1.25% (currently, 6.25%). Makes changes concerning the distribution of proceeds from the taxes imposed on those sales to provide that 100% of the proceeds are deposited into certain local government funds.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces clothing tax rate from 6.25% to 1.25% for items under $100, providing direct tax relief for lower-income shoppers on essential goods.90% confidence

Sub-Topics Sales Tax

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in committee · Illinois · House Jul 1, 2026

HJRCA 21: CONAMEND-REVENUE

Proposes to amend the Revenue Article of the Illinois Constitution. Provides that an additional income tax shall be imposed on individuals in an amount equal to 3% of the portion of the individual's net income that is greater than $1,000,000 for the taxable year. Provides that, of the revenue collected pursuant to those provisions, 50% shall be used to provide property tax relief and 50% shall be distributed to school districts solely on a per pupil basis. Effective upon being declared adopted.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes 3% tax on high earners ($1M+), allocates 50% to property tax relief and 50% to schools per pupil, supporting fiscal responsibility and public services.90% confidence ✓ EducationSupports EducationAllocates 50% of new tax revenue to school districts via per-pupil funding, directly increasing education funding as specified in the bill's summary.95% confidence

Sub-Topics Income Tax Property Tax

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in committee · Illinois · House Mar 27, 2026

HB 2642: PROP TX-AGGREGATE EXTENSION

Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that the limiting rate shall be calculated using the highest aggregate extension from any year in which the taxing district was subject to the Property Tax Extension Limitation Law (currently, the last 3 preceding levy years). Provides that an aggregate extension established for a levy year in which the taxing district was authorized to temporarily increase its limiting rate or its extension limitation may not be used.

Topics ✓ Budget & TaxesSupports Budget & TaxesAmends tax extension limit to use highest historical rate, enabling higher property tax collections for districts, advancing fiscal capacity for local government budgets.92% confidence

Sub-Topics Property Tax

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in committee · Illinois · Senate May 22, 2026

SB 2721: REVENUE-SMALL NUCLEAR REACTOR

Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers that make an investment in the manufacture of a small modular nuclear reactor in the State during the taxable year. Provides that the amount of the credit is 20% of the amount of that investment. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that tangible personal property purchased for use in the construction or operation of a small modular nuclear reactor in the State is exempt from taxation under those Act. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 20% income tax credit for nuclear reactor investments, directly modifying tax law to incentivize business spending under Budget & Taxes framework.92% confidence ✓ EnergySupports EnergyBill creates 20% tax credit for nuclear reactor investments, directly advancing nuclear energy infrastructure as a clean energy source under Illinois tax law.95% confidence ✓ EnvironmentSupports EnvironmentTax credit for small modular nuclear reactors promotes clean energy infrastructure, aligning with environmental protection goals through low-carbon energy investment.85% confidence

Sub-Topics Nuclear

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in committee · Illinois · Senate Oct 30, 2025

SR 505: NO TAX DECOUPLING-FEDS

Respectfully urges the Governor of the State of Illinois not to decouple Illinois' tax policy from the federal tax changes contained in H.R. 1. Respectfully urges the governor to pursue his publicly stated preferred method of balancing the State's budget by pursuing pro-growth policies by continuing to align Illinois' tax code with Internal Revenue Code to prevent an unnecessary tax increase on the job creators of our State and to ensure simplicity, fairness, and competitiveness for all Illinois taxpayers.

Topics ✓ Budget & TaxesSupports Budget & TaxesUrges alignment with federal tax code to prevent tax increases on job creators, promoting fiscal stability and competitiveness per bill summary.95% confidence

Sub-Topics Business Taxes

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in committee · Illinois · House Apr 17, 2026

HB 2686: REVENUE-LOCAL DISTRIBUTIONS

Amends the State Finance Act and the State Revenue Sharing Act. Provides that certain provisions concerning distributions from the State and Local Sales Tax Reform Fund and from the Local Government Distributive Fund constitute an irrevocable and continuing appropriation. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill mandates irrevocable appropriations from state tax funds to local governments, securing ongoing funding distributions without cuts or restrictions.95% confidence

Sub-Topics Revenue Sales Tax State Budget

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in committee · Illinois · House Mar 27, 2026

HB 4190: INC TX-SMALL BUSINESS CREDIT

Amends the Illinois Income Tax Act. Creates a credit for certain small businesses in an amount equal to the lesser of (i) 10% of the property taxes paid by the qualified small business during the taxable year for eligible real property or (ii) $1,500. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for small businesses, reducing property tax burden, aligning with tax relief support for Budget & Taxes.95% confidence

Sub-Topics Business Taxes Tags Small Business

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