Budget & Taxes

in committee · Illinois · Senate Feb 6, 2026

SB 3893: LOCAL GOV-PREEMPT TAX

Amends the Counties Code and the Illinois Municipal Code. Provides that neither a county nor a municipality may impose a tax on businesses calculated based on the number of employees of the business. Effective immediately.

Topics ✗ Budget & TaxesOpposes Budget & TaxesPrevents counties/municipalities from imposing employee-based business taxes, restricting local tax authority and new revenue sources.95% confidence

Sub-Topics Business Taxes

Track

in committee · Illinois · Senate Jul 9, 2026

SB 3868: INC TAX-PROP TAX CREDIT

Amends the Illinois Income Tax Act. Increases the tax credit for residential real property taxes from 5% of the real property taxes paid by the taxpayer during the taxable year on the principal residence of the taxpayer to 10% of the real property taxes paid by the taxpayer during the taxable year on the principal residence of the taxpayer. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases property tax credit from 5% to 10% for homeowners, providing direct tax relief. Aligns with support indicators for middle-income tax relief.95% confidence

Sub-Topics Income Tax Property Tax Tax Credits

Track

in committee · Illinois · Senate Feb 25, 2026

SB 4137: $FY27 PRB OCE

Makes appropriations for the ordinary and contingent expenses of the Prisoner Review Board for the fiscal year beginning July 1, 2026, as follows: General Funds $6,458,800; Other State Funds $185,000; Total $6,643,800.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $6.6M for Prisoner Review Board operations, directly supporting state budget appropriations and fiscal management.95% confidence ✓ Criminal JusticeSupports Criminal JusticeFunds Prisoner Review Board operations, supporting correctional oversight and prisoner review processes within the criminal justice system.95% confidence

Sub-Topics Appropriations State Budget

Track

in committee · Illinois · Senate Feb 25, 2026

SB 4108: $FY27 DECE OCE

Makes appropriations for the ordinary and contingent expenses of the Department of Early Childhood for the fiscal year beginning July 1, 2026, as follows: General Funds $2,087,963,000; Other State Funds $299,200,000; Federal Funds $2,037,234,200; Total $4,424,397,200.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $4.4B for Early Childhood department, funding essential public services without cuts or tax changes95% confidence ✓ EducationSupports EducationBill allocates $4.4B in total funding for the Department of Early Childhood, directly advancing educational access and funding for early education programs as defined in the topic description.95% confidence

Sub-Topics Appropriations State Budget Early Childhood

Track

in committee · Illinois · Senate Feb 6, 2026

SB 4037: TWP CD-AUDIT

Amends the Township Code. In provisions concerning the audits of townships that receive revenue of less than $850,000 during any fiscal year, provides that, in addition to the other audit requirements imposed by law, the township boards shall have the accounts and all records of the township thoroughly audited by a certified public accountant or subjected to a financial statement review (rather than only by a certified public accountant) within 6 months after (i) the end of each term of office of the township supervisor and (ii) a vacancy occurs in the office of township supervisor. Makes conforming changes.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires thorough township audits to promote fiscal responsibility, aligning with fiscal management standards under Budget & Taxes.85% confidence

Sub-Topics Audits & Accountability

Track

in committee · Illinois · House Feb 10, 2026

HB 5157: FINANCE-GEO-KARIS BEACH FUND

Amends the State Finance Act. Provides that revenue from the North Point Marina State Recreation Area shall be deposited into the Adeline Jay Geo-Karis Illinois Beach Marina Fund. Provides that the Adeline Jay Geo-Karis Illinois Beach Marina Fund may receive moneys from the General Revenue Fund and from any other lawful source. Provides that moneys in the Adeline Jay Geo-Karis Illinois Beach Marina Fund may be used only for purposes related to the North Point Marina State Recreation Area in Lake County.

Topics ✓ Budget & TaxesSupports Budget & TaxesDirects revenue and general funds to a state recreation area, ensuring dedicated funding for public service under fiscal management.80% confidence

Sub-Topics Revenue

Track

in committee · Illinois · Senate Feb 6, 2026

SB 3874: INC TX-BONUS DEPRECIATION

SB 3874 repeals Illinois' enhanced bonus depreciation deduction for business equipment from the state income tax code. This change directly affects businesses that previously claimed accelerated tax deductions for qualifying equipment purchases. The bill eliminates this specific tax provision effective immediately upon enactment, with no new mechanisms or alternative deductions introduced. It is a straightforward repeal of an existing tax benefit, not a new policy.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRepeals Illinois' enhanced bonus depreciation tax deduction, eliminating a business tax benefit. Directly reduces available tax breaks under state tax code.95% confidence

Sub-Topics Business Taxes Income Tax

Track

in committee · Illinois · Senate Feb 5, 2026

SB 3542: INC TX- PAID TIME OFF

Amends the Illinois Income Tax Act. Creates an income tax credit for each taxpayer that is an eligible small employer in an amount equal to the amount paid during the taxable year by the eligible small employer to its employees as paid leave that is required by the Paid Leave for All Workers Act. Provides that an eligible small employer is an employer that employs 50 or fewer employees during the taxable year and is subject to the Paid Leave for All Workers Act. Effective January 1, 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates income tax credit for small employers providing paid leave, reducing tax liability (tax relief) for eligible businesses under Illinois tax code.85% confidence ✓ Labor & EmploymentSupports Labor & EmploymentCreates tax credit for small employers providing mandated paid leave, incentivizing expanded worker benefits under Paid Leave for All Workers Act.95% confidence

Sub-Topics Income Tax Tax Credits Paid Leave

Track

in committee · Illinois · Senate May 22, 2026

SB 3710: INC TX-R AND D CREDIT

SB 3710 permanently extends Illinois' research and development (R&D) tax credit under the Illinois Income Tax Act. This change makes the credit available indefinitely for eligible businesses, rather than as a temporary provision. The bill directly affects companies conducting qualifying R&D activities within Illinois that claim this tax credit. It amends Section 201 of the tax code to remove any expiration date, effective immediately upon enactment. The credit allows businesses to reduce their state tax liability based on qualified R&D expenditures.

Topics ✓ Budget & TaxesSupports Budget & TaxesPermanently extends Illinois R&D tax credit, providing ongoing tax relief to businesses under Income Tax Act, directly strengthening tax incentive policy.95% confidence

Sub-Topics Income Tax Tax Credits

Track

in committee · Illinois · House May 21, 2026

HB 4712: MUNI CD-TIF SURPLUS FUNDS

Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that not more than 5% of all surplus funds in the special tax allocation fund may be distributed. Provides that surplus funds in the special tax allocation fund may be distributed not more than once every 10 years (rather than annually). Provides that, if the termination date for a redevelopment project area is extended beyond the 23rd calendar year after the year in which the ordinance approving the redevelopment project area was adopted, then following the 23rd calendar year, no surplus funds may be distributed until the redevelopment project area is terminated. Effective immediately.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRestricts TIF surplus fund distribution to 5% cap and limits disbursement frequency (every 10 years), limiting government spending flexibility on fiscal management.95% confidence

Track