Appropriates $2 from the General Revenue Fund to the State Universities Retirement System for its FY26 ordinary and contingent expenses. Effective July 1, 2025.
Appropriates $2 from the General Revenue Fund to the State Employees' Retirement System for its FY26 ordinary and contingent expenses. Effective July 1, 2025.
Makes appropriations for the ordinary and contingent expenses of the State Employees' Retirement System for the fiscal year beginning July 1, 2025, as follows: General Funds $1,974,735,420.
Amends the Budget Stabilization Act. Provides that, in addition to any other transfers that may be provided by law, the Comptroller shall transfer from the General Revenue Fund to the Pension Stabilization Fund the following amounts: $300,000,000 for Fiscal Year 2030; $400,000,000 for Fiscal Years 2031 through 2033; and $600,000,000 for Fiscal Years 2034 through 2049.
Appropriates $2 from the General Revenue Fund to the Teachers' Retirement System for its FY26 ordinary and contingent expenses. Effective July 1, 2025.
SB 2599 allocates $7,047,506,738 in state funds for teacher retirement system contributions during fiscal year 2025. The bill specifies funding from multiple state accounts - including the General Fund, Common School Fund, and Education Assistance Fund - to cover existing obligations for public school teachers' retirement benefits and health insurance. It directly affects Illinois public school teachers by ensuring state contributions to their retirement systems as required by current pension laws. The funding takes effect July 1, 2025, and does not create new policies or alter benefit calculations.
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that a special purpose extension made by a non-home rule municipality for mandatory contributions to a police pension fund or a firefighters' pension fund is not considered part of the municipality's aggregate extension, but only for the first year during which the levy is ever imposed by the non-home rule municipality. Provides that certain levies made under the Illinois Pension Code are not considered new rates.
Creates the Ground-Based Sparkler Purchaser Excise Tax Act. Imposes a tax, beginning July 1, 2025, upon purchasers for the privilege of using ground-based sparklers and not for the purpose of resale at the rate of 6% of the purchase price of ground-based sparklers. Prohibits certain retail combinations or bundles. Requires every retailer required to collect the tax to apply to the Department of Revenue for a certificate of registration. Provides that any retailer required to collect the tax shall be liable to the Department for the tax, whether the tax has been collected, and any such tax shall constitute a debt to the State. Provides for the making of returns. Provides that from the revenue collected, the Department shall pay 25% into the Fireman's Annuity and Benefit Fund, 25% into the Firefighters' Pension Investment Fund, and 50% into the General Revenue Fund. Provides for recordkeeping requirements. Establishes penalties for violations of the Act. Provides that the Department shall have full power to administer and enforce the Act. Allows for the arrest of any person who violates the Act, the search of any place of business to inspect all ground-based sparklers, and the seizure of any ground based-sparklers without a warrant. Sets forth hearing requirements after seizure. Allows the Department to adopt rules. Amends the Fireworks Regulation Act of Illinois. Allows a municipality to prohibit the sale and use of ground-based sparklers on public property. Prohibits ground-based sparklers from being sold to a person under the age of 18 years. Amends the Pyrotechnic Use Act. Prohibits ground-based sparklers from being sold to a person under the age of 18 years. Effective July 1, 2025.
Creates the Ground-Based Sparkler Purchaser Excise Tax Act. Imposes a tax, beginning July 1, 2026, upon purchasers for the privilege of using ground-based sparklers and not for the purpose of resale at the rate of 3% of the purchase price of ground-based sparklers. Prohibits certain retail combinations or bundles. Requires every retailer required to collect the tax to apply to the Department of Revenue for a certificate of registration. Provides that any retailer required to collect the tax shall be liable to the Department for the tax, whether the tax has been collected, and any such tax shall constitute a debt to the State. Provides for the making of returns. Provides that from the revenue collected, the Department shall pay 25% into the Fireman's Annuity and Benefit Fund, 25% into the Firefighters' Pension Investment Fund, and 50% into the General Revenue Fund. Provides for recordkeeping requirements. Establishes penalties for violations of the Act. Provides that the Department shall have full power to administer and enforce the Act. Allows for the arrest of any person who violates the Act, the search of any place of business to inspect all ground-based sparklers, and the seizure of any ground based-sparklers without a warrant. Sets forth hearing requirements after seizure. Allows the Department to adopt rules. Amends the Fireworks Regulation Act of Illinois. Allows a municipality to prohibit the sale and use of ground-based sparklers on public property. Prohibits ground-based sparklers from being sold to a person under the age of 18 years. Amends the Pyrotechnic Use Act. Prohibits ground-based sparklers from being sold to a person under the age of 18 years. Effective January 1, 2026.
HB 3920 is a funding bill that allocates specific sums from various state funds to the Office of the State Treasurer for fiscal year 2026 (July 2025-June 2026). It provides $17.2 million for operational costs, $1 million for tax interest refunds, $26.2 million from pension funds, and $3.7 billion for bond payments covering programs like transportation, schools, and pollution bonds. Additional funds support the Treasurer’s building maintenance ($500,000), higher education savings program ($2.5 million), and charitable trust administration ($1 million). The bill directly affects the State Treasurer’s office and its ability to manage state finances, with all funds designated for existing programs and operations.
