Budget & Taxes

in committee · Illinois · Senate Jun 2, 2025

SB 2476: INC TX-DOWNTOWN CREDIT

Amends the Illinois Income Tax Act. Creates a credit in an amount equal to 20% of the qualified conversion expenditures incurred by a taxpayer for a qualified converted building. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 20% tax credit for building conversions, reducing taxpayer liability - direct tax relief measure under fiscal management.95% confidence

Sub-Topics Business Taxes Tax Incentives

Track

in committee · Illinois · House Mar 21, 2025

HB 3808: PROP TX-CIRCUIT BREAKER

Creates the Circuit Breaker Property Tax Relief Act. Provides that an individual who: (i) is domiciled in this State; (ii) is eligible for and receives either the general homestead exemption the general alternative homestead exemption; (iii) has experienced property tax bill spikes; and (iv) has an income that meets a specified income eligibility limitation is eligible for a grant of a portion of their bill spike. Provides that the maximum amount of grant to which a claimant is entitled is the one-half of the claimant's tax bill spike. Creates the Circuit Breaker Property Tax Relief Fund for the purpose of making grants to claimants. Amends the State Finance Act to make conforming changes. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax relief grants to low/middle-income homeowners facing sudden tax increases, directly reducing their tax burden per bill summary.95% confidence

Sub-Topics Property Tax Tax Incentives

Track

in committee · Illinois · House Mar 21, 2025

HB 3179: USE/OCC TAX-DIAPERS

Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Reduces the rate of tax on diapers and baby wipes to 1% (currently, 6.25%). Makes various formatting changes.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces sales tax on essential baby items (diapers/wipes) from 6.25% to 1%, providing direct tax relief to lower-income families purchasing these necessities.95% confidence

Sub-Topics Business Taxes Sales Tax

Track

in committee · Illinois · House Mar 19, 2025

HB 4028: PROPERTY TAX-REFERENDUM

Creates the Property Tax Levy Relief Act of 2026. Provides that the State Board of Elections shall cause a statewide advisory question of public policy concerning the levying of taxes on parcels of real property to be submitted to the voters at the general election to be held on November 3, 2026. Provides that the State Board of Elections shall immediately certify the question to be submitted to the voters of the entire State to each election authority in Illinois. Repeals the Act on January 1, 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates Property Tax Levy Relief Act, explicitly proposing voter referendum to reduce property tax levies, aligning with tax relief indicators.90% confidence

Sub-Topics Property Tax

Track

in committee · Illinois · House Mar 21, 2025

HB 2989: USE/OCC TX-HOLIDAY

Amends the Use Tax Act and the Retailers' Occupation Tax Act. Creates a sales tax holiday period for school supplies each year during the 10-day period that begins on the first Monday in August. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates temporary sales tax holiday for school supplies, providing tax relief to families purchasing essential items, aligning with tax relief indicators for middle/lower income.95% confidence ✓ EducationSupports EducationCreates sales tax holiday for school supplies, reducing costs for families purchasing educational materials, directly enhancing access to K-12 educational resources.85% confidence

Sub-Topics Sales Tax

Track

in committee · Illinois · Senate Jun 2, 2025

SB 1877: EDGE WITHHOLDING-STEEL

Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that certain taxpayers that are primarily engaged in the recycling and melting of steel products and in the manufacturing of new steel wire and rod products may elect to claim the credit under the Act against their withholding tax liability instead of their income tax liability. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit option allowing steel industry to reduce withholding tax liability, a form of targeted tax relief aligning with fiscal responsibility indicators.90% confidence

Sub-Topics Income Tax Tax Credits Tax Incentives

Track

in committee · Illinois · House Mar 27, 2026

HB 1321: PROP TX-TAX DISTRICT SURPLUS

Amends the Property Tax Code. Provides that no taxing district may hold more than 150% of the previous levy year's property tax collections in cash or cash-equivalent assets. Provides that excess amounts shall be refunded to taxpayers. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesRefunds excess property tax collections to taxpayers, providing direct tax relief and promoting fiscal responsibility per bill's explicit language.95% confidence

Sub-Topics Property Tax

Track

in committee · Illinois · House Mar 27, 2026

HB 1228: MEDICAL CANNABIS-TAX

Amends the Retailers' Occupation Tax Act. In a provision concerning the rate of tax, provides that the definition "prescription and nonprescription medicine and drugs" includes cannabis or cannabis-infused products purchased from a dispensing organization under the Cannabis Regulation and Tax Act by a cardholder under the Compassionate Use of Medical Cannabis Act. Amends the Cannabis Regulation and Tax Act. Provides that the tax imposed under the provisions is not imposed on cannabis-infused product that is subject to tax under the Compassionate Use of Medical Cannabis Program Act or cannabis or cannabis-infused product sold to a cardholder under the Compassionate Use of Medical Cannabis Program Act. Effective January 1, 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts medical cannabis products from tax under Cannabis Regulation and Tax Act, providing tax relief for compliant purchases.95% confidence

Sub-Topics Sales Tax

Track

in committee · Illinois · House May 28, 2025

HB 1147: BUILD ILLINOIS HOMES ACT

Creates the Build Illinois Homes Tax Credit Act. Provides that owners of qualified low-income housing developments are eligible for credits against the taxes imposed by the Illinois Income Tax Act or taxes, penalties, fees, charges, and payments imposed by the Illinois Insurance Code. Amends the Illinois Income Tax Act and the Illinois Insurance Code to make conforming changes. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credits to low-income housing developers, reducing their tax burden to promote affordable housing development - aligns with tax relief for essential housing programs.95% confidence ✓ HousingSupports HousingProvides tax credits for low-income housing developments, incentivizing affordable housing construction and increasing supply per bill's explicit purpose.95% confidence

Sub-Topics Affordable Housing

Track

in committee · Illinois · House Feb 25, 2025

HB 3874: $SUPREME COURT-EXPENSES

Appropriates $628,298,600 to the Supreme Court for the ordinary and contingent expenses of the judicial system and various judicial programs. Effective July 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $628M to Supreme Court for judicial expenses, funding essential government operations per budget allocation.95% confidence

Sub-Topics Appropriations State Budget

Track