Budget & Taxes

Amends the Sports Wagering Act. Provides that the tax imposed on each master sports licensee for each individual wager placed with the master sports licensee for sports wagering over the Internet or through a mobile application shall end on July 1, 2026. Effective immediately.

Makes appropriations for the ordinary and contingent expenses of the Metropolitan Pier and Exposition Authority Act for the fiscal year beginning July 1, 2026, as follows: Other State Funds $312,202,000.

Amends the Illinois Income Tax Act. Creates a child care credit in an amount equal to 25% of the federal tax credit for each qualifying child. Effective immediately.

Appropriates $780,000 from the General Revenue Fund to the Department of Commerce and Economic Opportunity for a grant to the Cook County Forest Preserve District for the administration and operation of Greencorps Chicago and the Forest Preserve Experience Program. Effective July 1, 2026.

Amends the State Comptroller Act. Provides that the State Comptroller Local Government Advisory Board shall include one member of the Illinois State Police. Provides that recommendations submitted to the Comptroller by the Board shall include, but not be limited to, recommendations for reducing the incidence of financial fraud, improving internal controls, enhancing transparency and accountability, and strengthening the detection, reporting, and investigation of fraudulent activity in units of local government.

Amends the State Board of Education Article of the School Code. Provides that, beginning with the 2026-2027 school year, the State Board of Education shall award competitive grants on an annual basis to school districts and other educational units that have school social work interns to assist those school districts and other educational units in the funding of school social work internships approved by the interns' educator preparation programs by providing stipends. Sets forth the stipend amount. Provides that the State Board of Education shall annually disseminate to school districts and other educational units that have school social work interns a request for applications for grants. Provides that grant applications shall be accepted on an annual basis. Provides that the State Board of Education shall establish procedures for submitting requests for stipends and issuing funds to approved applicants. Provides for prioritizing grants if an appropriation is insufficient to fund all applications for grants. Provides that for any school year in which grants are awarded, the State Board of Education shall produce a report on the awarding of grants, in cooperation with the school districts and educational units that are awarded grants. Sets forth requirements for the report. Provides that the report shall be posted on the State Board of Education's Internet website each school year in which grants are awarded. Amends the Board of Higher Education Act. Provides that the Board of Higher Education shall establish and administer a grant program to support the field placement of social workers. Provides that the Board shall distribute the funds appropriated for this purpose in the form of grants to public or nonpublic institutions of higher education to expand opportunities for students who are intending to become social workers and to assist students in pursuing social-work related field placements, internships, and other work opportunities. Sets forth other requirements concerning the operation of the grant program. Effective immediately.

Creates the Capital Area Tourism Authority Act. Establishes the Capital Area Tourism Authority as a political subdivision and unit of local government for the benefit of the general public and for the promotion of business, industry, commerce, and tourism in the City of Springfield, Sangamon County, and the State of Illinois. Provides that, if and only if the Sangamon County Board, by ordinance, imposes a tax under a specified provision of the Counties Code on all hotel operators who engage in business as a hotel operator within a STAR bond district that is established in the territory of the Authority and if the Sangamon County Board also resolves that all of the revenue generated from that tax, as well as all of the tax receipts generated from local sales tax within such a STAR bond district, shall be dedicated to the payment of the project costs for any STAR bond project in such a district and shall be considered pledged STAR revenues under the Statewide Innovation Development and Economy Act, then the Authority may exercise certain economic development powers. Contains provisions concerning the powers and duties of the Authority; the membership of the Board of the Authority; meetings and records of the Board of the Authority; the use of pledged tax revenue; ownership and control of projects financed by the Authority; the investigatory authority of the Board of the Authority; and other matters. Contains legislative findings. Defines terms. Effective immediately.

Amends the Illinois Vehicle Code. Provides that the $15 tax imposed on the privilege of using any motor vehicle acquired by gift, transfer, or purchase also applies to stepparents, grandparents, stepgrandparents, stepsiblings, stepchildren, and stepgrandchildren.

Amends the Statewide Innovation Development and Economy Act. Creates a New Opportunities for Vacation and Adventure Urban District or NOVA urban district. Sets forth the capital investment and job creation requirements to be certified as a NOVA urban district. Amends the Property Tax Code. Creates the Megaproject Assessment Freeze and Payment Law. Provides that property that receives a megaproject certificate from the Department of Commerce and Economic Opportunity is eligible for an assessment freeze. Contains provisions concerning megaproject incentive agreements.

Amends the Illinois Income Tax Act. Creates a corporate income tax deduction for hemp business establishments in an amount equal to 50% of the income generated by the sale of products made by businesses owned by minority and other specific priority-population-owned businesses. Amends the Tobacco Products Tax Act of 1995 to exclude hemp-cannabinoid products subject to tax under the Industrial Hemp Act from the definition of tobacco products. Amends the Liquor Control Act of 1934 to provide that hemp extract and hemp-cannabinoid products made in compliance with State law are considered fit for human consumption. Authorizes liquor license holders to manufacture, distribute, and sell such products. Amends the Industrial Hemp Act to establish a comprehensive regulatory framework for hemp and hemp-derived cannabinoid products, including licensing, registration, packaging and labeling standards, age verification, laboratory testing, recordkeeping, enforcement, and penalties. Creates the Hemp Social Equity Fund to support loans, grants, and technical assistance for social equity applicants. Makes conforming changes to the State Finance Act. Effective January 1, 2027.