Budget & Taxes (Revenue)

Creates the Revenue Estimate Act. Provides that the General Assembly shall not enact any bill to appropriate funds within any fiscal year prior to its adoption of a joint resolution reflecting the estimate of funds available for that fiscal year as required under the Commission on Government Forecasting and Accountability Act. Effective immediately.

Urges the State of Illinois to make needed investments in Illinois communities by raising $6 billion in new revenue from the ultra-wealthy and mega-corporations. Affirms that, in addition to funding these critically-needed services, implementing these revenue policies will have the benefit of making our State's tax system less unfair to the lowest income Illinoisans.

Amends the Budget Law of the Civil Administrative Code of Illinois. Provides that, beginning with budgets prepared for fiscal year 2027, revenue estimates shall be based solely on receipts from taxes, fees, and federal transfers and shall not include debt incurred, existing debt refinanced, or additional funds appropriated, assigned, or transferred from another fund. Provides that appropriations for a fiscal year shall not exceed revenue estimated by the General Assembly to be available during that year. Provides that, except for deficiency or emergency appropriations, all appropriations are expendable only during the fiscal year for which they were appropriated, except that the General Assembly may provide for appropriations from the Budget Stabilization Fund in excess of revenue estimated by the General Assembly to be available during that year by adoption of a resolution approved by a record vote of three-fifths of the members of each chamber. Provides that the excess appropriations may not exceed the total amount available in the Budget Stabilization Fund. Provides that no public money shall be expended except pursuant to appropriations made by law. Provides that expenditures for any fiscal year shall not exceed the State's revenues and reserves in the general funds, including proceeds of any debt obligation, for that year. Provides that no debt obligation, except as shall be repaid within the fiscal year of issuance, shall be authorized for the current operation of any service or program, nor shall the proceeds of any debt obligation be expended for a purpose other than that for which it was authorized. Provides that any law requiring the expenditure of funds shall be null and void unless, during the session in which the Act receives final passage, an appropriation is made for the estimated first year's funding. Effective immediately.

HB 4033 allocates state General Revenue funds to legislative support agencies to cover their operational costs, including research, drafting, and administrative services. This funding directly supports the agencies that assist state legislators in their day-to-day work. The bill takes effect on July 1, 2025, providing stable financial backing for these essential support functions.

Urges the State of Illinois to make needed investments in Illinois communities by raising $6 billion in new revenue from the ultra-wealthy and mega-corporations. Affirms that, in addition to funding these critically-needed services, implementing these revenue policies will have the benefit of making our State's tax system less unfair to the lowest income Illinoisans.

Creates the Spending Reduction and Revenue Control Act. Provides that the General Assembly shall not pass any bill that either (i) creates new State taxes or (ii) increases existing State taxes until an appropriation bill or bills are passed that, in the aggregate, represent a reduction in the spending levels from the previous fiscal year. Provides that every State agency shall submit to the General Assembly a recommended list of spending efficiencies and budget reductions they deem necessary in order to help the General Assembly comply with the provisions of the Act. Effective immediately.

Makes appropriations for the ordinary and contingent expenses of the Department of Revenue for the fiscal year beginning July 1, 2025, as follows: General Funds $53,038,700; Other State Funds $1,411,072,700; Federal Funds $500,000; Total $1,464,611,400.

Makes appropriations for the ordinary and contingent expenses of the Department of Revenue for the fiscal year beginning July 1, 2025, as follows: General Funds $53,038,700; Other State Funds $1,411,072,700; Federal Funds $500,000; Total $1,464,611,400.

HB 175 allocates $2 from the state's General Revenue Fund to the Property Tax Appeal Board. This funding is designated to cover the Board's ordinary operating costs and contingent expenses for the fiscal year beginning July 1, 2025. The bill provides financial support for the Board's functions related to property tax appeals.

HB 1967 appropriates $2 from the General Revenue Fund to the Department of Revenue. This funding is designated for the department's ordinary and contingent expenses for Fiscal Year 2026. The bill directly affects the Department of Revenue by providing it with these funds, and it is set to become effective on July 1, 2025.