Budget & Taxes

Amends the Deposit of State Moneys Act and the Public Funds Investment Act. Provides that the State Treasurer or any public agency may consider the current and historical ratings that a financial institution has received under the Illinois Community Reinvestment Act when deciding whether to deposit State or public funds in that financial institution. Provides that, effective January 1, 2026, no State or public funds may be deposited in a financial institution subject to the Illinois Community Reinvestment Act unless either (i) the institution has a current rating of satisfactory or outstanding under the Illinois Community Reinvestment Act or (ii) the Department of Financial and Professional Regulation has not yet completed its initial examination of the institution pursuant to the Illinois Community Reinvestment Act. Makes conforming changes. Effective January 1, 2026.

House Bill 111 proposes to provide funding to the Department of Revenue. It appropriates $2 from the state's General Revenue Fund to cover the department's ordinary and contingent expenses for Fiscal Year 2026. This funding measure is set to take effect on July 1, 2025.

Requires the Department of Agriculture to create a grant program to award grants of up to $250,000, subject to appropriation, to cover the costs and labor of any qualified applicant farmer to distribute healthy, free food to expectant mothers in need who reside in the same county or in a municipality within 20 miles of the farmer's farm, with certain requirements. Requires the Department to adopt rules. Defines terms.

Urges the Illinois Department of Human Services and the Pritzker Administration to delay cuts to Direct Service Professional (DSP) service hours set to begin January 1,2026, until such time as the State is prepared to implement the "Zero Hour" Staffing Model, to protect the services depended on by individuals with intellectual and developmental disabilities (I/DD).

Amends the Illinois Vehicle Code. Establishes that a municipality that operates an automated speed enforcement system shall set aside 10% of the net proceeds from each system that generates more than $500,000 in revenue for the respective school district or park district in the safety zone in which the automated speed enforcement system is located. Provides that the set aside proceeds may be allocated for any purpose designated by the school district or park district. Set forth home rule provisions.

Amends the Property Tax Code. Provides that a county opting out of the special assessment programs to reduce the assessed value of certain residential real property shall not disqualify or shorten the maximum eligibility periods for any property approved to receive a reduced valuation prior to the county opting out. Requires that the special assessment programs be available to all qualifying residential real property regardless of whether or not the property has or is currently receiving any other public financing or subsidies or subject to any regulatory agreements with any public entity, or both. If an owner is approved for the reduced valuation prior to December 31, 2037 and the provisions are not subsequently extended, this shall not disqualify or shorten the maximum eligibility periods for any property approved to receive a reduced valuation. Provides that, if the chief county assessment officer has not created application forms, the chief county assessment officer shall make publicly available and accept applications forms that shall be available to local governments from the Illinois Department of Revenue. If a county Internet website exists, the application materials, as well as any other program requirements used by the county (such as application deadlines, fees, and other procedures required by the application) must be published on that website, otherwise it must be available to the public upon request at the office of the chief county assessment officer. On an annual basis, requires the Illinois Housing Development Authority to calculate and make available on its website the minimum per square foot expenditure requirements to be applicable statewide to be eligible for the reduced valuation, which shall include the historical annual expenditure requirements starting with calendar year 2021. Changes reference to improvements to existing residential real property to substantially rehabilitated residential real property. Makes other changes.

HB 1928 proposes to allocate a specific amount of money from the state's general budget. This bill would appropriate $2 from the General Revenue Fund. These funds are designated for the Court of Claims to cover its ordinary and contingent operational expenses. The appropriation is intended for the upcoming Fiscal Year 2026.

Amends the Metropolitan Water Reclamation District Act. Provides that bonds, notes, or other evidences of indebtedness for specified purposes shall be issued from time to time only in amounts as may be required for such purposes but the amount of such obligations issued during any one budget year shall not exceed $250,000,000 (rather than $150,000,000) plus the amount of any obligations authorized by the Act to be issued during the 3 budget years next preceding the year of issuance but which were not issued.

Creates the Small Farmer Restoration Program Act. Creates the Small Farmer Restoration Program Fund as a special fund in the State treasury. Provides that the moneys in the Fund, upon appropriation by the General Assembly, shall be used for the purposes of the program, which include grants for the purchase of agricultural conservation easements, technical assistance grants, technical assistance provided by the Department of Agriculture, and administrative costs incurred by the Department in administering the program. Provides that moneys may be deposited into the Fund from federal grants and gifts and donations that are designated and required by the donor to be used exclusively for the purposes of the program. Provides that not more than 10% of available funds under the Act may be used for technical assistance purposes and administration. Provides that not less than 90% of funds available for grants under the Act shall be expended for the acquisition of agricultural conservation easements. Provides that moneys in the Fund shall also be available for the following purposes: (1) to provide technical assistance grants to qualified entities in support of socially disadvantaged farmers who are seeking access to farmland; and (2) to provide grants for the purchase of agricultural conservation easements to qualified easement holders. Provides that moneys from the Fund shall be available in each fiscal year to any qualified easement holder having made an application that has been reviewed by the Department. Provides that subject to appropriation and in partnership with the University of Illinois Extension, the Department shall establish the Farm Conservation Corps to provide residents between the ages of 18 and 29 from socially disadvantaged groups the academic, vocational, and social skills necessary to pursue long-term and productive careers in agriculture. Provides that the Department shall adopt rules to carry out the provisions of the Act, including the adoption of rules that establish a process for submitting and processing of applications for grants no later than December 31, 2026. Provides that rules shall align with existing federal and local programs to maximize potential for matching funds. Amends the State Finance Act to make conforming changes. Effective immediately.

Amends the State Treasurer Act. Provides that, subject to appropriation, the State Treasurer may make a matching contribution of $50 to an ABLE account opened on or after January 1, 2026 for a beneficiary who is a resident of Illinois. Provides that the matching contribution shall be limited to one contribution per beneficiary and shall not be treated differently from any other contributions to the account. Provides that if there are insufficient funds available, the State Treasurer may reduce the matching contribution amount or forgo contributions. Provides that the Illinois ABLE Matching Contribution Fund shall be the official repository of all contributions, appropriated funds, interest, and dividend payments, gifts, or other financial assets received by the State Treasurer in connection with matching contributions to ABLE accounts. Amends the State Finance Act. Creates the Illinois ABLE Matching Contribution Fund.