Budget & Taxes

in committee · Illinois · Senate Feb 25, 2025

SB 2550: $DVA

Makes appropriations for the ordinary and contingent expenses of the Department of Veteran Affairs for the fiscal year beginning July 1, 2025, as follows: General Funds $160,460,600; Other State Funds $71,321,965; Federal Funds $2,691,400; Total $234,473,965.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $234M in state/other funds for VA operations, advancing essential program funding under fiscal management.90% confidence ✓ VeteransSupports VeteransAllocates $234.47M to DVA for operations, directly funding veteran services and benefits as specified in the appropriations summary.95% confidence

Sub-Topics Appropriations State Budget Veteran Benefits Veteran Education Veteran Healthcare

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in committee · Illinois · House Mar 21, 2025

HB 3264: INC TX-ABLE ACCOUNTS

Amends the Illinois Income Tax Act. Creates an income tax credit for contributions to an ABLE account. Provides that the credit shall be in an amount equal to 25% of that matching contribution, but not to exceed $500 per contributing employee per taxable year. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 25% income tax credit (up to $500) for ABLE account contributions, providing direct tax relief to contributors and aligning with fiscal responsibility for middle-income savers.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Illinois · House Feb 25, 2025

HB 3937: $GOMB

Makes appropriations for the ordinary and contingent expenses of the Governor's Office of Management and Budget for the fiscal year beginning July 1, 2025, as follows: General Funds $4,800,000; Other State Funds $639,463,400; Total $644,263,400.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $644M to GOMB for fiscal management, directly funding state budget operations per appropriations summary.95% confidence

Sub-Topics State Budget

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in committee · Illinois · Senate Feb 7, 2025

SB 2359: MOTOR FUEL-CPI ADJUSTMENT

SB 2359 stops a planned July 1, 2025 increase to Illinois' motor fuel tax that would have been triggered by the Consumer Price Index (CPI). The bill directly affects fuel retailers and consumers by freezing this specific tax hike, which would have raised gas and diesel prices based on inflation. It amends the Motor Fuel Tax Law to explicitly state that the July 1, 2025 CPI-based adjustment "shall not occur," while leaving all other tax rates and provisions unchanged. The freeze applies only to the 2025 increase, not to current rates or future adjustments after that date.

Topics ✗ Budget & TaxesOpposes Budget & TaxesPrevents inflation-linked motor fuel tax increase, directly restricting a tax hike that would raise consumer costs.95% confidence

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in committee · Illinois · Senate Jun 2, 2025

SB 2430: HOTEL TX-VACATION RENTALS

Amends the Hotel Operators' Occupation Tax Act. Provides that, beginning on January 2026, the tax under the Act is also imposed on short-term rentals. Provides that the tax shall be paid by the short-term rental unit provider, unless the short-term rental is secured through a short-term rental marketplace that meets certain thresholds. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes new tax on short-term rentals, expanding state revenue collection under existing tax framework without relief provisions.95% confidence

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in committee · Illinois · Senate May 22, 2026

SB 178: INC TX-SOUNDPROOFING

Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the amount paid by the taxpayer during the taxable year for the purpose of purchasing materials, labor, and professional services to soundproof a residential home located at an eligible address against aircraft noise generated by an airport governed by the provisions of the Permanent Noise Monitoring Act. Provides that the credit may not reduce the taxpayer's liability to less than zero. Provides that the credit may be carried forward. Provides that the credit is exempt from the Act's automatic sunset provisions. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for residential soundproofing under Illinois Income Tax Act, providing tax relief for eligible homeowners.90% confidence

Sub-Topics Procurement

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in committee · Illinois · House Mar 21, 2025

HB 2395: INC TX-UNION DUES

Amends the Illinois Income Tax Act. Creates a deduction for the full amount of union dues paid by the taxpayer during the taxable year if the taxpayer was not allowed a federal deduction under the Internal Revenue Code. Provides that, if any amount of union dues representing federal miscellaneous itemized deductions was allowed as a federal deduction, then the amount allowed as an Illinois deduction shall be a specified percentage of the union dues disallowed under the Internal Revenue Code. Provides that the deduction is exempt from the Act's automatic sunset provision. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax deduction for union dues, providing relief to workers by reducing taxable income under Illinois Income Tax Act.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill creates Illinois tax deduction for union dues, directly supporting union membership and collective bargaining rights under Labor & Employment policies.95% confidence

Sub-Topics Collective Bargaining

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in committee · Illinois · Senate Jun 2, 2025

SB 2005: SMALL BUSINESS INCENTIVES

Creates the Small Business Economic Incentive Act. Provides that at least 50% of the dollar value of all economic incentives awarded to businesses by the State or by any State agency on or after January 1, 2026 shall be awarded to businesses with 50 or fewer full-time employees. Effective January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill mandates 50% of state economic incentives for small businesses (50+ employees), directing budget allocation toward small business support, aligning with fiscal management.90% confidence

Sub-Topics Business Taxes Tax Incentives Tags Small Business

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in committee · Illinois · Senate Feb 6, 2025

SB 2025: PREVAILING WAGE-TAX CREDITS

Amends the Illinois Income Tax Act and the Prevailing Wage Act. Provides that certain transferable tax credits are considered public works within the meaning of the Prevailing Wage Act. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill enables transferable tax credits for public works projects, strengthening fiscal mechanisms to fund infrastructure through tax incentives.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill ensures tax credits for public works comply with prevailing wage laws, protecting worker pay rates under Illinois law.95% confidence

Sub-Topics Tax Credits

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in committee · Illinois · House Jul 1, 2026

HB 2024: $SW IL DEV AUTH-TECH

Appropriates $2 from the General Revenue Fund to the Southwestern Illinois Development Authority for its FY26 ordinary and contingent expenses. Effective July 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $2 from General Revenue Fund to Southwestern Illinois Development Authority for FY26 expenses, supporting fiscal management through targeted budget allocation.85% confidence

Sub-Topics Revenue

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