Budget & Taxes

in committee · Illinois · House Feb 19, 2026

HB 5648: $FY27 DOR OCE

Makes appropriations for the ordinary and contingent expenses of the Department of Revenue for the fiscal year beginning July 1, 2026, as follows: General Funds $36,408,900; Other State Funds $620,134,100; Federal Funds $500,000; Total $657,043,000.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill appropriates $657M for Department of Revenue operations, directly funding state fiscal management and tax collection infrastructure per budget allocation.95% confidence

Sub-Topics Appropriations Revenue State Budget

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in committee · Illinois · Senate May 22, 2026

SB 3204: FOREST PRESERVE-REVENUE

Amends the Downstate Forest Preserve District Act. Provides that the Board of the Kendall County Forest Preserve District may impose a tax upon all persons engaged in the business of selling, including leasing, tangible personal property, other than personal property titled or registered with an agency of this State's government, at retail in the county on the gross receipts from the sales made in the course of business to provide revenue to be used by the forest preserve district in that county for general forest preserve district purposes. Provides that the tax may not be imposed on tangible personal property taxed at the 1% rate under the Retailers' Occupation Tax Act. Provides that the tax shall not be imposed on sales of aviation fuel for so long as the revenue use requirements are binding on the board. Provides that the tax and all civil penalties that may be assessed as an incident of the tax shall be collected and enforced by the Department of Revenue. Amends the State Finance Act. Designates the Special Forest Preserve District Retailers and Service Occupation Tax Fund as a special fund in the State Treasury. Makes other changes. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill authorizes a local sales tax to fund forest preserve district operations, directly increasing revenue for public service management.95% confidence ✓ EnvironmentSupports EnvironmentFunds forest preserve district through retail sales tax, directly supporting conservation of natural areas and resources.85% confidence

Sub-Topics Forestry

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in committee · Illinois · Senate May 22, 2026

SB 3216: INC TX-EARLY CHILDHOOD

Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who are employed as an early childhood teacher or an early childhood assistant during the taxable year and who have a federal adjusted gross income for the taxable year of $75,000 or less. Provides that, for taxable years beginning on January 1, 2026 and beginning before January 1, 2027, the amount of the credit is $1,000. Provides that, for subsequent taxable years, the credit amount shall be adjusted by the percentage increase, if any, in the Consumer Price Index for the preceding calendar year. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides $1,000 income tax credit for early childhood educators with AGI ≤$75k, offering tax relief to lower/middle income public education workers.90% confidence ✓ EducationSupports EducationProvides $1,000 income tax credit for early childhood teachers with AGI under $75k, directly supporting educator compensation in K-12 education.92% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides $1,000 tax credit for early childhood educators under $75k AGI, directly supporting income stability and workforce retention in low-wage education sector.90% confidence

Sub-Topics Income Tax Tax Credits Early Childhood Teachers

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in committee · Illinois · House May 13, 2026

HB 4923: DISTRESSED FARMERS ACT

Creates the Distressed Farmers Act. Provides that the Department of Agriculture shall fund and administer programs to address the needs of distressed farmers. Amends The Illinois Income Tax Act. Provides that for taxable years beginning on or after January 1, 2026, each taxpayer who is a distressed farmer and who incurs qualified farming expenses during the taxable year is entitled to a tax credit in an amount equal to 100% of those qualified farming expenses, not to exceed $50,000 per taxpayer in any taxable year. Provides that qualified farming expenses include: (1) repairing tractors, trailers, and other vehicles; (2) purchasing, repairing, or constructing greenhouses and other covers for agricultural products; (3) purchasing tractors with tillers and other attachments; and (4) planting or harvesting food that will be delivered to an underserved community.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 100% tax credit for distressed farmers' qualified expenses, reducing tax burden and supporting agricultural sector through targeted tax relief.90% confidence

Sub-Topics Income Tax Procurement Tax Credits

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in committee · Illinois · House Feb 10, 2026

HB 5245: PROP TAX-SENIORS LEVEL BILLING

Amends the Property Tax Code. Provides that, with regard to all applicants who meet the household income and other qualifications set forth for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption, and notwithstanding any other law, for property tax bills prepared for tax year 2026 and thereafter, the county collector shall bill the eligible household an amount that shall not exceed the property tax bill for the same household for the prior tax year. Provides an exception to the level tax billing privilege when an assessed improvement is made by the owner or occupant of the real property. Provides that eligibility for level property tax billing is contingent upon the household's continuing eligibility for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax freeze for qualifying low-income seniors, preventing annual increases, aligning with tax relief for lower-income groups.90% confidence

Sub-Topics Property Tax

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in committee · Illinois · House Feb 10, 2026

HB 5017: INC TX-RATES

Amends the Illinois Income Tax Act. Provides that the rate of tax on individuals, trusts, and estates shall be (i) 4.5667% of the taxpayer's net income for taxable years beginning on or after January 1, 2026 and ending before January 1, 2027, (ii) 4.1833% of the taxpayer's net income for taxable years beginning on or after January 1, 2027 and ending before January 1, 2028, and (iii) 3.8% of the taxpayer's net income for taxable years beginning on or after January 1, 2028 (currently, 4.95%). Provides that the rate of tax for corporations is (i) 6.3% of the taxpayer's net income for taxable years beginning on or after January 1, 2026 and ending before January 1, 2027, (ii) 5.6% of the taxpayer's net income for taxable years beginning on or after January 1, 2027 and ending before January 1, 2028, and (iii) 4.9% of the taxpayer's net income for taxable years beginning on or after January 1, 2028. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill reduces income tax rates from 4.95% to 3.8% over 2026-2028, providing tax relief per support indicators.90% confidence

Sub-Topics Business Taxes Income Tax

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in committee · Illinois · House May 7, 2026

HB 5550: TRUTH IN TAX-REVENUE RATE

Amends the Truth in Taxation Law in the Property Tax Code. Provides that the notice and hearing requirements apply if the taxing district proposes to extend a tax rate against all taxable property in the district that exceeds the revenue neutral rate. Provides that the term "revenue neutral rate" means an aggregate tax rate for the taxing district that would generate the same amount of property tax revenue as was levied by the taxing district in the previous tax year using the current tax year's total assessed valuation of all property in the taxing district. Makes changes concerning notice provisions.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill enforces transparency for tax rate hikes above revenue neutral levels, promoting fiscal accountability and taxpayer protection under Budget & Taxes.85% confidence

Sub-Topics Property Tax Revenue

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in committee · Illinois · Senate Jul 9, 2026

SB 3959: INC TX-WELCOME HOME CREDIT

Amends the Illinois Income Tax Act. Creates the Welcome Home Illinois tax credit. Provides that each taxpayer who is a first-time homebuyer of a principal residence in the State during the taxable year is entitled to an income tax credit in an amount equal to $500. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates $500 tax credit for first-time homebuyers, providing direct tax relief to middle-income residents per Illinois Income Tax Act amendment.95% confidence ✓ HousingSupports HousingProvides $500 tax credit for first-time homebuyers, directly advancing affordable housing access through financial incentive.90% confidence

Sub-Topics Income Tax Tax Credits Homeownership

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in committee · Illinois · Senate May 1, 2026

SB 4139: $FY27 ISBE OCE

Makes appropriations for the ordinary and contingent expenses of the Illinois State Board of Education for the fiscal year beginning July 1, 2026, as follows: General Funds $10,720,733,500; Other State Funds $93,575,900; Federal Funds $4,398,349,500; Total $15,212,658,900.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $15.2B in state/federal funds to Illinois State Board of Education for fiscal year 2027, directly funding essential public education services.95% confidence ✓ EducationSupports EducationBill allocates $15.2B in state/federal funds to Illinois State Board of Education for FY27, directly funding K-12 operations and educational expenses.95% confidence

Sub-Topics Appropriations State Budget

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in committee · Illinois · House Mar 27, 2026

HB 4816: ESTATE TAX-MANUFACTURING

Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2027, the State tax credit shall be calculated as though the decedent's federal taxable estate did not include the decedent's business interest in a manufacturing business located in this State. Defines "manufacturing business". Effective immediately.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExcludes manufacturing business interests from estate tax calculation, reducing state tax revenue. Creates tax break for business owners, weakening tax system.95% confidence

Sub-Topics Tax Credits

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