Budget & Taxes

Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. In provisions concerning organizations that are operated exclusively for educational purposes, provides that the term "tax-supported public school" includes any student organization that meets both of the following: (1) enrollment in the student organization is limited to students from a particular public elementary or secondary school; and (2) the student organization is affiliated with the public elementary or secondary school but is not sponsored by the public elementary or secondary school. Effective immediately.

HB 1967 appropriates $2 from the General Revenue Fund to the Department of Revenue. This funding is designated for the department's ordinary and contingent expenses for Fiscal Year 2026. The bill directly affects the Department of Revenue by providing it with these funds, and it is set to become effective on July 1, 2025.

Amends the Illinois Income Tax Act. Creates an income tax deduction for gratuities that are included in the taxpayer's federal adjusted gross income. 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.

Makes appropriations for the ordinary and contingent expenses of the Property Tax Appeal Board for the fiscal year beginning July 1, 2025, as follows: Other State Funds $13,716,800.

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.

HB 4007 is a fiscal appropriations bill that allocates funding to the Illinois State Comptroller's office for the 2025 state fiscal year. It provides $32.4 million from the General Revenue Fund for the Comptroller's office operations, including $250,000 for the Office of Inspector General, and additional sums from other funds for court reporter payments, state lottery expenses, and salaries for elected and appointed state officials. The bill specifically funds existing state operations and salaries for over 40 state positions across departments like Human Services, Corrections, and the Illinois State Police. It does not create new programs but ensures continued funding for current administrative and personnel costs.

Amends the Property Tax Code. Provides that property that is used as a qualified residence by a police officer or firefighter with a duty-related disability is exempt from taxation under the Code. Effective immediately.

HB 1990 is a legislative bill that appropriates funds for the General Assembly. Specifically, it allocates two dollars from the state's General Revenue Fund to cover the General Assembly's ordinary and contingent expenses. This funding is designated for the fiscal year beginning July 1, 2025, and the bill becomes effective on that date.

Creates the Property Tax Relief Act. Provides that any individual whose household is liable for payment of property taxes accrued or has paid rent constituting property taxes accrued and is domiciled in this State at the time he or she files his or her claim is entitled to claim a grant under the Act to be administered by the Department of Revenue. Provides that for 2025 claim year applications submitted during calendar year 2026, a household must have an annual household income of less than the State median adjusted gross income. Provides that for taxable years 2025 and thereafter, an eligible residence must have an assessed market value of less than $350,000. Provides that except as otherwise provided under the Act, the maximum grant amount which a claimant is entitled to claim not to exceed $5,000. Sets forth the grant amount for eligible households that receive cash assistance from the Department of Healthcare and Family Services or the Department of Human Services. Contains provisions concerning the effect joint ownership of a single residence or ownership of multiple residences has on the calculation of the grant amount. Sets forth the procedure to file a grant claim. Contains provisions concerning supporting documents the Department of Revenue may require claimants to submit to verify eligibility for a grant; the payment and denial of claims; claimants' records; rules of confidentiality; penalties for filing a fraudulent claim; and Department rules.

Amends the Property Tax Code. Provides that, for taxable year 2026, the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption is $75,000 (currently, $65,000). Provides that, beginning in taxable year 2027, 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.