Budget & Taxes

in committee · Illinois · Senate Jun 2, 2025

SB 1207: PROP TX-PROBATE

Amends the Property Tax Code. Provides that no interest or penalties shall be imposed with respect to property that is included in a decedent's probate estate at the time of a delinquency if the representative of the decedent's estate applies with the county treasurer for a waiver of those amounts and is granted that waiver. Provides that the waiver shall apply beginning on the date of the decedent's death until the earlier of either: (i) the date on which the property is sold, transferred, or conveyed or (ii) the date on which the estate is closed.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill waives property tax penalties/interest for probate estates, providing tax relief per Property Tax Code amendment.85% confidence

Sub-Topics Property Tax

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in committee · Illinois · House May 13, 2025

HB 2846: FRANCHISE TAX-REPEAL

Amends the Business Corporation Act of 1983. Provides that, in the case of a domestic or foreign corporation, no payment is required for a franchise tax that would have been due and payable on or after January 1, 2026. Provides that all amounts remaining in the Corporate Franchise Tax Refund Fund shall be transferred to the General Revenue Fund no later than December 31, 2026. Makes changes in provisions concerning the statute of limitations. Repeals provisions concerning franchise taxes payable by domestic and foreign corporations on January 1, 2027. Effective immediately.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRepeals corporate franchise tax, eliminating a state revenue source and reducing budget income by removing tax obligations for corporations.95% confidence

Sub-Topics Business Taxes Revenue

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in committee · Illinois · House Feb 6, 2025

HB 2734: 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 tax deduction for overtime pay, reducing taxable income and providing relief to taxpayers under Illinois Income Tax Act.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentCreates tax deduction for overtime pay, increasing workers' net income by reducing taxable income on overtime compensation.85% confidence

Sub-Topics Income Tax Labor Standards

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in committee · Illinois · House Apr 7, 2025

HB 1361: INC TX-SMALL BUSINESS CREDIT

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.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for small businesses, reducing their tax burden under Illinois Income Tax Act.95% confidence

Sub-Topics Business Taxes Tags Small Business

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in committee · Illinois · Senate May 30, 2025

SB 1835: INC TAX-MANUFACTURING

Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to 10% of the manufacturing capital expenditures incurred by the taxpayer during the taxable year or, if the taxpayer is located in a rural or economically challenged area, 15% of those expenditures. Provides that the total amount of credits awarded under these provisions may not exceed $10,000,000 for any particular taxpayer in any taxable year, except that, if the capital investment is made in a rural or economically challenged area, then the maximum amount awarded for any particular taxpayer in any taxable year shall be $20,000,000. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 10-15% tax credit for manufacturing capital expenditures, reducing business tax burden and incentivizing investment in rural/economically challenged areas.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Illinois · House May 20, 2025

HB 4060: SR CITIZEN INCOME ELIGIBILITY

Amends the Senior Citizens and Persons with Disabilities Property Tax Relief Act. In provisions regarding income eligibility levels for programs that use the income limits in the Act for eligibility determinations, requires the Department on Aging to adopt rules such that beginning January 1, 2027, and every January 1 thereafter, the income eligibility limits shall be adjusted to extend eligibility to households having an annual household income that is at or below 400% of the federal poverty level for the applicable family size.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands property tax relief eligibility to households at or below 400% of federal poverty level, providing tax relief for lower-income seniors/disabled individuals.95% confidence ✓ HousingSupports HousingBill extends property tax relief eligibility to households at or below 400% federal poverty level, increasing affordability for seniors/disabled, thus supporting affordable housing.95% confidence

Sub-Topics Property Tax Property Taxes

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in committee · Illinois · Senate Jun 2, 2025

SB 1282: SR CITIZEN INCOME ELIGIBILITY

Amends the Senior Citizens and Persons with Disabilities Property Tax Relief Act. In a provision setting forth the specified household income eligibility limits used to determine eligibility for reduced vehicle registration fees and free transit services, provides that the Department on Aging shall (rather than may) adopt rules such that on January 1, 2026, and thereafter, the specified household income eligibility limits shall be changed to reflect the annual cost of living adjustment in Social Security and Supplemental Security Income benefits.

Topics ✓ Budget & TaxesSupports Budget & TaxesAdjusts income limits for tax relief program to reflect annual COLA, maintaining eligibility for seniors/disabled for reduced fees/transit, ensuring ongoing tax relief continuity.95% confidence ✓ TransportationSupports TransportationAmends eligibility for free transit services by mandating annual income adjustments, directly expanding access to public transportation for seniors/disabled populations.90% confidence

Sub-Topics Property Tax Driver Licensing Vehicle Registration

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in committee · Illinois · House Jul 1, 2026

HB 2032: $SUPREME CT-TECH

HB 2032 appropriates $2 from the General Revenue Fund to the Supreme Court. This funding is designated for the court's ordinary and contingent expenses for Fiscal Year 2026, becoming effective on July 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $2 from General Revenue Fund to Supreme Court for FY2026, directly funding essential state court operations within budget framework.95% confidence

Sub-Topics Revenue State Budget

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in committee · Illinois · House May 20, 2025

HB 3871: INC TX-NIL DEDUCTION

Amends the Illinois Income Tax Act. Creates an income tax deduction in an amount equal to the amount of compensation that is earned during the taxable year by a taxpayer who is a student-athlete from the taxpayer's name, image, and likeness and that is included in the taxpayer's federal adjusted gross income for the taxable year.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax deduction for student-athletes' NIL income, reducing taxable income and tax liability. Directly provides tax relief per 'support' indicators for tax relief measures.95% confidence

Sub-Topics Income Tax

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in committee · Illinois · Senate Jun 17, 2026

SB 1647: INC TX-EDUCATION

Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who are the custodians of one or more children who attend an eligible preschool program in the State during the taxable year. Provides that the amount of the credit shall be 100% of the eligible expenses incurred by the taxpayer during the taxable year in sending the child to the eligible preschool program, but not to exceed $1,500 per child. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates income tax credit for preschool expenses, reducing tax burden for eligible families, aligning with tax relief for middle-income households.95% confidence ✓ EducationSupports EducationCreates tax credit for preschool expenses, increasing access to early education programs and supporting families with educational costs.95% confidence

Sub-Topics Early Childhood

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