Budget & Taxes

in committee · Illinois · Senate Feb 6, 2025

SB 1900: INCLUSIVE VENTURE INVESTMENT

Creates the Inclusive Venture Investment Act. Provides that the State Treasurer shall create a Direct Matching Funds Program. Provides that the purpose of the program shall be to leverage State-managed funds for investments in minority-owned venture capital firms, minority-owned financial managers, and minority-led startups. Sets forth provisions for investment requirements and incentives; administration; transparency and reporting; oversight and compliance; confidentiality; and rulemaking. Effective July 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesDirects state-managed funds to invest in minority-owned ventures, advancing fiscal support through targeted government spending programs.95% confidence

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in committee · Illinois · Senate Apr 8, 2025

SB 2646: $COURT OF CLAIMS

Makes appropriations for the ordinary and contingent expenses of the Court of Claims for the fiscal year beginning July 1, 2025. Effective July 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates FY2025 funds for Court of Claims operations, directly supporting state budget appropriations for essential government functions.85% confidence

Sub-Topics Appropriations State Budget

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in committee · Illinois · Senate Feb 25, 2025

SB 2528: $DEPARTMENT OF AGRICULTURE

Makes appropriations for the ordinary and contingent expenses of the Department of Agriculture for the fiscal year beginning July 1, 2025, as follows: General Funds $38,190,000; Other State Funds $114,383,700; Federal Funds $79,525,300; Total $232,099,000.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $232M in state/federal funds for Department of Agriculture operations, directly advancing budget appropriations for state agency funding.95% confidence

Sub-Topics Appropriations State Budget

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in committee · Illinois · House Mar 21, 2025

HB 13: INC TX-ADOPTION

Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the foster care expenses, not to exceed $1,000 in any taxable year, paid or incurred by the taxpayer with respect to a qualified dependent child. Provides that the credit may be prorated. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates $1,000 tax credit for foster care expenses, providing direct tax relief to families, supporting Budget & Taxes95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Illinois · House Mar 21, 2025

HB 3117: INC TX-EMINENT DOMAIN

Amends the Illinois Income Tax Act. Creates a deduction in an amount equal to the capital gains realized by the taxpayer from the taking of property by eminent domain to the extent that those gains are included in the taxpayer's federal taxable income. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax deduction for eminent domain capital gains, reducing taxable income - provides tax relief per indicators.85% confidence

Sub-Topics Income Tax

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in committee · Illinois · House Mar 21, 2025

HB 3612: FOX WATERWAY AGENCY-PROP TAX

Amends the Fox Waterway Agency Act. Removes language providing that the Fox Waterway Agency shall not have the authority to impose any property tax. Allows the board of directors to levy and collect a general property tax on any property within the corporate limits of the Agency for the purpose of paying the cost of operating and maintaining the waterway and any other corporate expenses of the Agency.

Topics ✓ Budget & TaxesSupports Budget & TaxesEnables property tax for waterway operations, directly funding agency expenses under Budget & Taxes95% confidence

Sub-Topics Property Tax

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in committee · Illinois · House Jan 9, 2025

HB 60: GUARANTEED INCOME PROGRAM-BAN

Creates the Prohibition on Taxpayer Funding of Guaranteed Income Act. Provides that, on and after July 1, 2025, no unit of government may use taxpayer money to fund a guaranteed income program. Preempts the exercise of home rule powers. Effective July 1, 2025.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill explicitly bans taxpayer funding for guaranteed income programs, restricting government spending on such initiatives per its prohibition clause.95% confidence ✗ HousingOpposes HousingBans taxpayer funding for guaranteed income programs, which directly defunds a key housing affordability mechanism. Explicitly restricts funding that could support housing stability.90% confidence ✗ Labor & EmploymentOpposes Labor & EmploymentDefunds guaranteed income programs, restricting a key worker financial safety net, opposing expanded labor support95% confidence

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in committee · Illinois · House Jul 1, 2026

HB 2022: $SERS-TECH

Appropriates $2 from the General Revenue Fund to the State Employees' Retirement System for its FY26 ordinary and contingent expenses. Effective July 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill appropriates $2 from General Revenue Fund to fund SERS retirement system expenses, directly supporting state budget allocation for essential employee benefits.90% confidence

Sub-Topics Pensions Revenue State Budget

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in committee · Illinois · House Mar 21, 2025

HB 2811: EDGE WITHHOLDING-STEEL

Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that certain taxpayers that are primarily engaged in the recycling and melting of steel products and in the manufacturing of new steel wire and rod products may elect to claim the credit under the Act against their withholding tax liability instead of their income tax liability. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allows steel businesses to apply tax credit against withholding tax, providing targeted tax relief to support economic development under the Economic Development Tax Credit Act.90% confidence

Sub-Topics Income Tax Tax Incentives

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in committee · Illinois · House Jan 20, 2026

HB 1899: INC TX-OVERTIME DEDUCTION

Amends the Illinois Income Tax Act. Creates an income tax deduction for the amount of overtime compensation that is paid to the taxpayer during the taxable year and that is included in the taxpayer's federal adjusted gross income. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates income tax deduction for overtime compensation, reducing taxable income and providing tax relief for workers earning overtime pay.95% confidence

Sub-Topics Income Tax

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