Budget & Taxes

in committee · Illinois · House Mar 27, 2026

HB 5526: DOMESTIC FRANCHISE TAX-REPEAL

Amends the Business Corporation Act of 1983. Provides that, on or after January 1, 2027 and prior to January 1, 2028, the first $100,000 in liability is exempt from the franchise tax payable by domestic corporations. Provides that, in the case of a domestic corporation, no payment is required for a franchise tax that would have been due and payable on or after January 1, 2028. Repeals the provision concerning franchise taxes payable by domestic corporations on January 1, 2028. Effective immediately.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRepeals franchise tax for domestic corporations, eliminating a government revenue source and reducing tax liability for businesses.95% confidence

Sub-Topics Business Taxes

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in committee · Illinois · House Feb 19, 2026

HJRCA 26: CONAMEND-INCOME TAX

Proposes to amend the Revenue Article of the Illinois Constitution. Provides that an additional income tax shall be imposed on individuals in an amount equal to 3% of the portion of the individual's income that is greater than $1,000,000 for the taxable year. Provides that the revenue collected from the tax shall be used to provide property tax relief. Effective upon being declared adopted.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes 3% tax on income >$1M to fund property tax relief, directly advancing fiscal management and targeted tax relief per bill's explicit purpose.95% confidence

Sub-Topics Income Tax Property Tax

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in committee · Illinois · Senate Feb 25, 2026

SB 4080: $FY27 COURTS COMMISSION

SB 4080 appropriates $400,000 from the General Revenue Fund to the Illinois Courts Commission for its ordinary and contingent operational expenses. This funding, effective July 1, 2026, supports the commission's day-to-day administrative costs and unforeseen expenses. The bill does not change laws or policies but provides necessary financial resources for the commission's existing functions. It directly affects the Courts Commission's budget operations without altering legal standards or public services.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $400k from General Revenue Fund for Courts Commission's operational costs, directly funding essential budget operations without policy changes.95% confidence

Sub-Topics Revenue

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in committee · Illinois · House Feb 13, 2026

HB 5610: BUDGET STABILIZATION-PENSION

Amends the Budget Stabilization Act. Provides that specified amounts shall be transferred from the General Revenue Fund to the Pension Stabilization Fund beginning in fiscal year 2030 and continuing until the end of fiscal year 2045 or when each of the designated retirement systems has achieved 100% funding, whichever occurs first. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesTransfers funds from General Revenue to Pension Stabilization Fund, ensuring long-term fiscal responsibility and preventing future budget shortfalls through structured pension funding.95% confidence

Sub-Topics Pensions Revenue

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in committee · Illinois · House Mar 27, 2026

HB 5444: PROP TX-ENERGY SYSTEMS

Amends the Property Tax Code. In provisions concerning the valuation of wind energy devices, provides that, for taxable year 2027 and thereafter, the real property cost basis is $588,000 per megawatt of nameplate capacity (currently, $360,000 per megawatt of nameplate capacity). In provisions concerning the valuation of solar energy systems, provides that, for taxable year 2027 and thereafter, the real property cost basis is $446,000 per megawatt of nameplate capacity (currently, $218,000 per megawatt of nameplate capacity). Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases taxable value basis for wind/solar properties, boosting state property tax revenue. Directly supports budget by raising tax income for renewable energy infrastructure.95% confidence ✓ EnergySupports EnergyIncreases tax valuation for wind/solar, reducing property tax burden and encouraging renewable energy development.95% confidence ✓ EnvironmentSupports EnvironmentIncreases tax incentives for wind/solar systems by raising valuation thresholds, directly promoting clean energy adoption per environmental indicators.90% confidence

Sub-Topics Property Tax Solar Wind

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in committee · Illinois · House Jul 2, 2026

HB 4720: $AGR-DISADVANTAGED FARMERS

Appropriates $2,500,000 from the General Revenue Fund to the Department of Agriculture for the purpose of providing grants to emerging and socially disadvantaged farms for infrastructure, equipment, operations and market access. Effective July 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $2.5M from General Revenue Fund for farm grants, directly funding a state program under budget management.95% confidence

Sub-Topics Revenue

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in committee · Illinois · House Jan 14, 2026

HB 4350: INC TX-SMALL BUSINESS CREDIT

Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 100%, but in no event more than $250,000 per taxpayer in any taxable year, of qualified business expenses paid by a qualified small business during the taxable year. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 100% tax credit for small business expenses (up to $250k), reducing tax burden and supporting fiscal responsibility for small businesses.95% confidence

Sub-Topics Business Taxes Income Tax Tax Credits Tags Small Business

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in committee · Illinois · House Mar 27, 2026

HB 4594: IL MUSEUM-CAPITAL DEVELOPMENT

Amends the Department of Natural Resources Act. In a provision that directs the Department of Natural Resources to contribute to and support the operations, programs, and capital development of public museums in the State, deletes a provision requiring public museums that receive funds for capital development to match State funds with local or private funding in accordance with certain requirements.

Topics ✓ Budget & TaxesSupports Budget & TaxesRemoves matching requirement for museum capital funds, increasing state spending without local/private funding obligation.95% confidence

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in committee · Illinois · House Apr 14, 2026

HB 4427: FINANCE-CANNABIS REGULATION

Amends the State Finance Act. Creates the Prison Education Fund. Provides that moneys in the Prison Education Fund shall be used by the Illinois Community College Board and Illinois Board of Higher Education to make grants to prison education programs that award associate degrees or bachelor's degrees to currently incarcerated students. Makes changes concerning the allocation of money from the Cannabis Regulation Fund. Provides that 0.5% of the moneys in the Cannabis Regulation Fund, after certain allocations have been made, shall be transferred from the Cannabis Regulation Fund to the Prison Education Fund.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates 0.5% of cannabis tax revenue to fund prison education programs, advancing public service funding through targeted budget allocation.95% confidence ✓ Criminal JusticeSupports Criminal JusticeCreates Prison Education Fund for associate/bachelor's degrees in prisons, directly funding rehabilitation programs to reduce recidivism.95% confidence ✓ EducationSupports EducationCreates Prison Education Fund to fund associate/bachelor's degrees for incarcerated students via cannabis revenue, expanding educational access and higher education opportunities.95% confidence

Sub-Topics Corrections Drug Policy Higher Education

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in committee · Illinois · House Mar 27, 2026

HB 4405: PROP TX-VETERANS

Amends the Property Tax Code. In provisions concerning the homestead exemption for veterans with disabilities and veterans of World War II, provides that the term "veteran" also includes veterans who were killed in the line of duty but were not Illinois residents at the time of their death. Provides that a requirement that a surviving spouse must be a resident of Illinois from the time of the veteran's death through the taxable year for which the homestead exemption for veterans with disabilities is sought does not apply if the veteran was killed in the line of duty. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands property tax exemption eligibility for veterans' families, providing direct tax relief per Budget & Taxes indicators.95% confidence ✓ VeteransSupports VeteransExpands homestead exemption eligibility to include veterans killed in line of duty who weren't Illinois residents, broadening access to property tax benefits for veterans' families.95% confidence

Sub-Topics Property Tax

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