Budget & Taxes

in committee · Illinois · House May 22, 2026

HB 5215: MARK-TO-MARKET TAX ACT

Creates the Extremely High Wealth Mark-to-Market Tax Act. Provides that a resident taxpayer with net assets worth $1,000,000,000 or more shall recognize gains or losses as if each asset owned by that taxpayer had been sold for its fair market value on December 31 of the taxable year. Contains provisions concerning the calculation of the amount of tax due from those gains or losses. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes tax on ultra-wealthy's unrealized gains, increasing state revenue and closing a potential loophole per tax code amendment.95% confidence

Sub-Topics Income Tax

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in committee · Illinois · House Feb 10, 2026

HB 5267: SHORT-TERM RENTAL ASSESSMENT

Amends the Property Tax Code. Provides that, in counties with a population of 200,000 or more that classify property, any residential property used in whole or in part as a short-term rental accommodation for 30 or more days in any year shall be assessed on the same basis of assessment as commercial property

Topics ✓ Budget & TaxesSupports Budget & TaxesReclassifies short-term rentals as commercial property for tax assessment, increasing revenue from this sector and closing a potential tax loophole in property taxation.90% confidence

Sub-Topics Property Tax

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in committee · Illinois · Senate Feb 25, 2026

SB 4128: $FY27 IELRB OCE

Makes appropriations for the ordinary and contingent expenses of the Illinois Educational Labor Relations Board for the fiscal year beginning July 1, 2026, as follows: Other State Funds $4,465,600.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $4.47M in state funds to Illinois Educational Labor Relations Board for FY2027, supporting public service funding under budget appropriations.95% confidence ✓ EducationSupports EducationFunds IELRB for labor relations, supporting educator-employer relations in schools.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentFunds Illinois Educational Labor Relations Board (IELRB), which handles labor disputes and collective bargaining in education, directly supporting labor relations infrastructure.90% confidence

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in committee · Illinois · Senate Jul 6, 2026

SB 3873: INC TX-R AND D CREDIT

SB 3873 permanently extends Illinois' research and development (R&D) tax credit for businesses. It amends the Illinois Income Tax Act to make the R&D credit permanent, removing any expiration date. This change directly affects businesses that claim R&D credits on their state tax returns, providing ongoing eligibility without needing annual legislative renewal. The credit applies immediately upon the bill's effective date, offering predictable tax relief for qualifying companies investing in innovation.

Topics ✓ Budget & TaxesSupports Budget & TaxesPermanently extends R&D tax credit, providing ongoing tax relief for businesses investing in innovation, directly supporting business tax incentives under Budget & Taxes.95% confidence ✓ TechnologySupports TechnologyPermanently extends R&D tax credit, providing ongoing financial support for technology innovation and business investment in tech R&D.95% confidence

Sub-Topics Business Taxes Income Tax Tax Incentives

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in committee · Illinois · House Mar 2, 2026

HB 5527: INC TAX-R AND D CREDIT

Amends the Illinois Income Tax Act. Increases the amount of the research and development credit by calculating the increase in the taxpayer's research activities in the State over 50% (currently, 100%) of the qualifying expenditures for the base period. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases R&D tax credit by expanding eligibility, directly modifying tax policy to provide business tax relief and incentivize research activities.95% confidence

Sub-Topics Income Tax

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in committee · Illinois · House Feb 19, 2026

HB 5680: $FY27 SPMB OCE

Makes appropriations for the ordinary and contingent expenses of the State Police Merit Board for the fiscal year beginning July 1, 2026, as follows: Other State Funds $2,432,900.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $2.4M to State Police Merit Board for FY27 operations, directly funding a state agency's budget through appropriations.95% confidence

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in committee · Illinois · Senate Feb 25, 2026

SB 4093: $FY27 DCFS OCE

Makes appropriations for the ordinary and contingent expenses of the Department of Children and Family Services for the fiscal year beginning July 1, 2026, as follows: General Funds $1,668,497,400; Other State Funds $826,507,600; Federal Funds $15,816,600; Total $2,510,821,600.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $2.5B to DCFS for FY27, directly funding essential state services through budget appropriations.95% confidence

Sub-Topics Appropriations State Budget

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in committee · Illinois · Senate Feb 25, 2026

SB 4143: $FY27 SPMB OCE

Makes appropriations for the ordinary and contingent expenses of the State Police Merit Board for the fiscal year beginning July 1, 2026, as follows: Other State Funds $2,432,900.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $2.4M in state funds for State Police Merit Board operations, directly advancing budget allocation for a state agency.95% confidence

Sub-Topics State Budget

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in committee · Illinois · House Mar 27, 2026

HB 4915: SENIOR DEFERRAL-LIENS

Amends the Senior Citizens Real Estate Tax Deferral Act. Provides that the real estate taxes deferred under the Act and taxes paid by the Department of Revenue under the Act, together with all interest and costs that may accrue on those amounts, shall be a prior and first lien on the property until the deferred taxes, interest, and costs are paid. Provides that the tax deferral and recovery agreement with the collector shall expressly state that those amounts are a prior and first lien. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesAmends tax deferral to secure government lien priority, ensuring fiscal responsibility in tax collection and revenue recovery for state budgets.90% confidence

Sub-Topics Tax Incentives

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in committee · Illinois · House Feb 19, 2026

HB 5674: $FY27 WCC OCE

Makes appropriations for the ordinary and contingent expenses of the Illinois Workers' Compensation Commission for the fiscal year beginning July 1, 2026, as follows: Other State Funds $32,734,700.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $32.7M for Workers' Comp Commission operations, directly funding a state agency's budget through fiscal year allocation.95% confidence

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