HB 5807 repeals Illinois' Targeted Advertising Services Tax Act, which eliminates a state-level tax on digital advertising services that use data to target specific consumers. The bill also amends the Counties Code and the Illinois Municipal Code to permanently prohibit home rule counties and municipalities from imposing their own taxes on these targeted advertising services. By removing both the state tax and local taxing authority in this area, the legislation directly affects businesses that sell targeted digital advertising and the government entities that previously collected revenue from it.
HB 5806 repeals Illinois state laws that imposed a fee on social media platforms. The bill amends the Business Corporation Act of 1983 to remove the specific provisions authorizing these charges. This change directly affects social media companies operating in Illinois by eliminating their obligation to pay this particular tax or fee.
This bill primarily updates tax and bond laws in Illinois to support large-scale construction projects known as megaprojects. It allows the Department of Commerce and Economic Opportunity to certify specific building projects, granting eligible developers a temporary exemption from state and local taxes on building materials for up to 15 years. Additionally, the legislation clarifies that public corporations can no longer levy taxes to pay off bonds once the debt is fully paid or the bond matures. The bill also requires that future bond referenda be held during general elections rather than at regularly scheduled times, while making various technical adjustments to existing tax acts.
HB 5801 amends the State Finance Act to require the transfer of specific funds from various state accounts into the Budget Reserve for Immediate Disbursements and Governmental Emergencies Fund. This bill directly affects multiple state funds, including those for open space lands, medical cannabis, law enforcement, and wildlife conservation, by mandating that the State Comptroller and Treasurer move designated amounts from each into the reserve. The legislation sets a deadline of July 31, 2025, for completing these transfers, which range from small sums like $43,000 to larger amounts like $15 million. By repealing previous rules that required transfers to the reserve from certain funds, this act establishes a new, comprehensive list of sources for the budget reserve.
HB 5796 amends the state's 2027 budget to allocate funds to the Department of Commerce and Economic Opportunity for various job training, business development, and community support programs. The bill distributes millions of dollars in grants to specific organizations, including labor unions, colleges, and chambers of commerce, to help fund workforce initiatives and operational costs. Additionally, it provides money to reduce food insecurity in urban and rural areas and supports planning and development projects in Chicago and other regions. These changes directly affect the organizations receiving the grants and the communities they serve by funding specific economic and social programs.
This bill repeals the Digital Asset Tax Act, immediately ending the requirement for cryptocurrency exchanges in Illinois to collect a 1.5% tax on digital asset transactions. By removing the law from the books, the measure eliminates the obligation for these exchanges to withhold and remit taxes to the state. The change directly affects cryptocurrency platforms operating in Illinois and the investors who previously paid this specific tax on their trades.
Creates the Taxpayer and Investment Protection Act. Provides that a developer that undertakes a qualifying project may apply to the Department of Commerce and Economic Opportunity for certain benefits authorized under the Act, including, but not limited to, a negotiated property tax agreement and infrastructure support if the project satisfies certain job creation, investment, and location requirements. Provides that one or more taxing bodies may enter into a negotiated property tax agreement with the developer of a qualifying project. Provides that the agreement shall provide for a single annual payment in full satisfaction of all ad valorem property taxes that would otherwise be levied on the improvements constructed on the project site as part of the qualifying project. Provides that the State may provide infrastructure support for public infrastructure improvements that directly benefit a qualifying project and provide broader public benefit to the region in which the project is located. Amends the Property Tax Code to make conforming changes. Effective immediately.
Appropriates specified amounts from various funds to the Court of Claims to pay claims in conformity with awards and recommendations made by the Court of Claims. Effective July 1, 2026.
Appropriates $10,000,000 from the Partners for Conservation Fund to the Department of Agriculture for grants to Soil and Water Conservation Districts for ordinary and contingent expenses. Effective July 1, 2026.
Appropriates $1,260,000,000 to the Department of Transportation to be used for transportation related purposes in municipalities, counties, townships and road districts for projects related to (1) State and local asset management, (2) ADA improvements, (3) bike and pedestrian infrastructure improvements, (4) multi-modal connections, (5) capital safety improvement, and (6) match for federal grant opportunities. Effective July 1, 2026.