Budget & Taxes

in committee · Illinois · House Feb 25, 2025

HB 3932: $INDEPENDENT TAX TRIBUNAL

Makes appropriations for the ordinary and contingent expenses of the Illinois Independent Tax Tribunal for the fiscal year beginning July 1, 2025, as follows: General Funds $628,300; Other State Funds $82,700; Total $711,000.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $711,000 for Illinois Independent Tax Tribunal operations, directly funding a tax administration body to resolve disputes, aligning with fiscal responsibility and tax system support.95% confidence

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in committee · Illinois · House Feb 6, 2025

HB 2649: INVEST IN KIDS-REENACT

HB 2649 reenacts and makes permanent Illinois' "Invest in Kids Act," allowing taxpayers to make tax-deductible contributions to scholarship-granting organizations. These contributions fund scholarships covering "necessary costs and fees" for eligible students from low-income households (initial income ≤ 300% of federal poverty level, rising to 400% after receiving a scholarship) to attend qualified non-public schools in Illinois. The bill establishes requirements for technical academies offering career-focused CTE programs aligned with industry needs and wage standards. It amends the Illinois Income Tax Act to permanently integrate this scholarship program, effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax-deductible contributions for education scholarships, providing tax relief to donors while funding low-income student programs via private schools.90% confidence ✓ EducationSupports EducationEnables tax-deductible scholarships for low-income students to attend non-public schools, expanding educational access and funding options for K-12 education.95% confidence

Sub-Topics Career & Technical Education School Choice Student Financial Aid

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in committee · Illinois · House Feb 25, 2025

HB 3942: $DOR

Makes appropriations for the ordinary and contingent expenses of the Department of Revenue for the fiscal year beginning July 1, 2025, as follows: General Funds $53,038,700; Other State Funds $1,411,072,700; Federal Funds $500,000; Total $1,464,611,400.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates $1.46B to DOR for tax administration and fiscal management, directly funding essential budget operations.90% confidence

Sub-Topics Appropriations Revenue State Budget

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in committee · Illinois · Senate Jun 2, 2025

SB 1673: USE/OCC TAX-HOLIDAY

Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that, from August 6, 2025 through August 8, 2025, and from August 13, 2025 through August 15, 2025, the tax imposed under the Acts on clothing and school supplies shall be at the rate of 1.25% (instead of 6.25%). Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesTemporary tax reduction on clothing/school supplies (6.25% → 1.25%) provides consumer relief, aligning with tax relief indicators for middle/lower income.90% confidence

Sub-Topics Sales Tax

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in committee · Illinois · Senate Aug 5, 2025

SB 1643: PROP TX-SENIOR FREEZE

Amends the Property Tax Code. Provides that, beginning in taxable year 2025, the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption shall be increased each year by the percentage increase, if any, in the Consumer Price Index. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases property tax exemption income limit for seniors using CPI, providing tax relief to low-income seniors. Directly supports tax policy for vulnerable groups.95% confidence

Sub-Topics Property Tax

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in committee · Illinois · Senate Feb 14, 2025

SB 1734: INC TX-STANDARD EXEMPTION

Amends the Illinois Income Tax Act. Provides that the cost-of-living adjustment to the standard exemption applies on a permanent basis (currently, for taxable years that end on or before December 31, 2028). Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesPermanent cost-of-living adjustment to standard exemption prevents erosion of tax relief for middle-income taxpayers, maintaining purchasing power through inflation adjustments.95% confidence

Sub-Topics Income Tax

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in committee · Illinois · House Mar 21, 2025

HB 1925: SCH-EDUCATION PRIORITIZATION

Creates the Education Prioritization Act. Beginning with fiscal year 2026, requires the General Assembly to appropriate for the evidence-based funding formula under the School Code an amount that is equal to or exceeds the sum of: (i) the total amount appropriated for the evidence-based funding formula during the fiscal year immediately preceding the fiscal year for which the appropriation is being made; and (ii) 51% of total new general funds available for spending from estimated growth in revenues and funds available because of budgeted program growth and decline in the fiscal year for which the appropriation is being made; but in no event shall the sum be less than a certain percentage required under the Act. Requires a continuing appropriation if the General Assembly fails to make sufficient appropriations to fund the evidence-based funding formula. Amends the School Code to make changes concerning a system for accounting for revenues and expenditures and evidence-based funding. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesMandates annual funding increases for education via evidence-based formula, ensuring continued public service funding per appropriation requirements.95% confidence ✓ EducationSupports EducationBill mandates annual funding increases for evidence-based school formula by requiring appropriations to exceed prior year's amount plus 51% of new general funds, directly advancing school funding priorities.95% confidence

Sub-Topics State Budget School Funding

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in committee · Illinois · Senate Feb 11, 2025

SJRCA 2: CONAMEND-BUDGET FIRST

Proposes to amend the Legislature Article of the Illinois Constitution. Provides that the General Assembly shall pass a bill containing the State budget and present it to the Governor before the General Assembly considers any other bill.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires budget passage before other bills, promoting fiscal responsibility in state budget process85% confidence

Sub-Topics State Budget

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in committee · Illinois · Senate Jun 2, 2025

SB 2476: INC TX-DOWNTOWN CREDIT

Amends the Illinois Income Tax Act. Creates a credit in an amount equal to 20% of the qualified conversion expenditures incurred by a taxpayer for a qualified converted building. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 20% tax credit for building conversions, reducing taxpayer liability - direct tax relief measure under fiscal management.95% confidence

Sub-Topics Business Taxes Tax Incentives

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in committee · Illinois · House Mar 21, 2025

HB 3808: PROP TX-CIRCUIT BREAKER

Creates the Circuit Breaker Property Tax Relief Act. Provides that an individual who: (i) is domiciled in this State; (ii) is eligible for and receives either the general homestead exemption the general alternative homestead exemption; (iii) has experienced property tax bill spikes; and (iv) has an income that meets a specified income eligibility limitation is eligible for a grant of a portion of their bill spike. Provides that the maximum amount of grant to which a claimant is entitled is the one-half of the claimant's tax bill spike. Creates the Circuit Breaker Property Tax Relief Fund for the purpose of making grants to claimants. Amends the State Finance Act to make conforming changes. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax relief grants to low/middle-income homeowners facing sudden tax increases, directly reducing their tax burden per bill summary.95% confidence

Sub-Topics Property Tax Tax Incentives

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