Amends the Motor Fuel Tax Law. Provides that, beginning on July 1, 2025, the rate of tax shall be $0.19 per gallon (currently, 39.2 cents per gallon, adjusted each year according to the percentage increase in the Consumer Price Index), plus an additional 2 1/2 cents per gallon for diesel fuel, liquefied natural gas, or propane. Amends the Illinois Municipal Code. Provides that no tax may be imposed under the Municipal Motor Fuel Tax Law on or after July 1, 2025. Preempts the exercise of home rule powers. Effective immediately.
Appropriates $628,298,600 to the Supreme Court for the ordinary and contingent expenses of the judicial system and various judicial programs. Effective July 1, 2025.
Creates the Short-Term Rental Occupation Tax Act. Imposes taxes upon short-term rental transactions facilitated by a hosting platform. Provides that one tax is imposed at the rate of 5% of 94% of the gross rental receipts from the transaction. Provides that an additional tax is imposed at the rate of 1% of 94% of the gross rental receipts from the transaction. Provides that operators of short-term rentals shall obtain a business license from the Department of Revenue. Amends the Hotel Operators' Occupation Tax Act. Provides that re-renters of hotel rooms who meet certain criteria related to gross receipts or number of transactions are required to collect and remit the tax under the Act. Amends the Counties Code and the Illinois Municipal Code to make conforming changes. Effective January 1, 2026.
Amends the Corporate Accountability for Tax Expenditures Act. Provides that if an applicant is seeking development assistance for a project that is a new office construction or office relocation that retains at least 100 jobs in the county in which the project is located or is being relocated to and the county has more than 25,000 residents but less than 50,000 residents, the applicant shall be eligible for development assistance under the Department of Transportation's Economic Development Program.
Amends the Illinois Income Tax Act. Creates an income tax deduction for gratuities that are included in the taxpayer's federal adjusted gross income. Effective immediately.
Amends the Illinois Income Tax Act. Creates a credit for certain small businesses in an amount equal to the lesser of (i) 10% of the property taxes paid by the qualified small business during the taxable year for eligible real property or (ii) $1,500. Effective immediately.
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. Provides that the credit is refundable if the taxpayer's federal adjusted gross income for the taxable year does not exceed $50,000. Effective immediately.
Creates the Reinvest in Future Technical Careers Act. Provides that the Department of Revenue shall award income tax credits to taxpayers who make authorized contributions to scholarship granting organizations for the purpose of awarding scholarships to eligible students who attend technical academies. Sets forth limitations with respect to the aggregate amount of credits awarded by the Department of Revenue under the program in a calendar year and the amount of credits awarded to an individual taxpayer. Amends the Illinois Income Tax Act to make conforming changes.
Amends the Property Tax Code. In provisions concerning the Senior Citizens Assessment Freeze Homestead Exemption, provides that, for taxable years 2026 and thereafter, the maximum income limitation is $85,000 (currently, $65,000). Effective immediately.
Amends the Fiscal Note Act, the Judicial Note Act, the State Debt Impact Note Act, the Correctional Budget and Impact Note Act, the Home Rule Note Act, the Balanced Budget Note Act, the Housing Affordability Impact Note Act, and the Racial Impact Note Act. Provides, in each of the affected Acts, that no rule of either house may authorize or require a note request to be deemed inapplicable. Effective immediately.
