Budget & Taxes (Property Tax)

Amends the Counties Code. Provides that, beginning July 1, 2026, each State's Attorney whose term begins after July 1, 2026 shall be compensated at the rate of 100% of the mean of the amount paid to the resident circuit judges in the county courthouse for the State's Attorney.. Provides that the State shall furnish 66 2/3% of the total annual compensation to be paid to each State's Attorney in the State based on the salary in effect on December 31, 1988, and 100% of the increases in salary taking effect after December 31, 1988. Provides that the amount shall be paid from the Personal Property Tax Replacement Fund. Provides that the county shall be responsible for the State and federal income tax reporting and withholding and the employer contributions under the Illinois Pension Code.

Creates the District Energy and Thermal Energy Storage Parity Act. Provides that the Illinois Commerce Commission, in consultation with Environmental Protection Agency, shall establish an optional certification process for Qualified District Energy Infrastructure. Requires the Environmental Protection Agency to establish a grant program to support certain projects. Provides that, within 180 days after the effective date of the Act, the Commission shall initiate a docketed proceeding to develop standardized thermal service agreement templates, suitable for developer financing and underwriting, and minimum requirements for customer rate stabilization options. Provides that a developer shall obtain a District Energy Feasibility Assessment from a qualified preparer for certain projects. Sets forth requirements for the content of the District Energy Feasibility Assessment. Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Requires the Department to develop and make available to units of local government a municipal alignment toolkit to facilitate the development and expansion of district energy systems. Requires the Department to establish and administer a district energy expansion program to support the development expansion, modernization, and decarbonization of district energy systems in the State. Amends the Illinois Finance Authority Act. Provides that the Authority may provide loans, credit enhancements, interest rate buydowns, loan loss reserves, or other financial assistance for the development, construction, expansion, or operation of the Qualified Energy Infrastructure and Dispatchable Thermal Energy Storage. Amends the Illinois Power Agency Act. Creates the Thermal Energy Storage Credit procurement program. Sets forth requirements for the program. Amends the Illinois Procurement Code. Sets forth provisions concerning district energy evaluation in State procurements. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Makes changes in provisions concerning exemptions. Amends the Property Tax Code. Defines "commercial energy storage system". Amends the Public Utilities Act. Sets forth provisions concerning district energy enabling measures and heat recovery incentives. Makes other changes.

Amends the State Finance Act. Creates the Community Housing Reintegration Fund. Provides that moneys in the Fund may be used to provide housing-related costs for eligible persons who are either (i) transitioning out of congregate long-term care settings into less restrictive independent and community-based housing or (ii) facing impending placement in a congregate long-term care facility due to lack of affordable accessible housing. Amends the Property Tax Code. Increases the real estate transfer tax from $0.50 per $500 of valuation to $0.75 per $500 in valuation. Provides that a portion of the proceeds from the real estate transfer tax shall be deposited into the Community Housing Reintegration Fund. Effective immediately.

Amends the Property Tax Code. Provides that, if an applicant or a member of the applicant's household incurs qualified medical expenses in the taxable year and withdraws moneys from a tax-deferred account to pay those qualified medical expenses, then the applicant may apply to the chief county assessment officer to deduct those amounts from the applicant's household income for the purpose of determining the applicant's eligibility for the low-income senior citizens assessment freeze homestead exemption. Effective immediately.

Amends the Property Tax Code. Creates the free and clear senior homestead exemption. Provides that certain homestead property that is owned and used a primary residence by a person who is 75 years of age or older and whose income does not exceed a specified income limitation is exempt from taxation under the Code.

This bill makes Illinois' residential property tax credit refundable starting in 2026. It directly affects homeowners who claim the credit by allowing them to receive a cash refund if the credit amount exceeds their income tax liability. The key change is that taxpayers will get the excess credit amount paid back to them as a refund, rather than only reducing their tax bill. This refund won't count as income for means-tested programs (like food assistance), unless federal law requires otherwise. The change applies to tax years beginning January 1, 2026, and updates the existing credit structure under the Illinois Income Tax Act.

Amends the Property Tax Code. Provides that, with regard to all applicants who meet the household income and other qualifications set forth for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption, and notwithstanding any other law, for property tax bills prepared for tax year 2026 and thereafter, the county collector shall bill the eligible household an amount that shall not exceed the property tax bill for the same household for the prior tax year. Provides an exception to the level tax billing privilege when an assessed improvement is made by the owner or occupant of the real property. Provides that eligibility for level property tax billing is contingent upon the household's continuing eligibility for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption.

Amends the Truth in Taxation Law in the Property Tax Code. Provides that the notice and hearing requirements apply if the taxing district proposes to extend a tax rate against all taxable property in the district that exceeds the revenue neutral rate. Provides that the term "revenue neutral rate" means an aggregate tax rate for the taxing district that would generate the same amount of property tax revenue as was levied by the taxing district in the previous tax year using the current tax year's total assessed valuation of all property in the taxing district. Makes changes concerning notice provisions.

Appropriates $37,204,600 from the General Revenue Fund to the State Board of Elections for operational expenses, grants, and reimbursements for the 2027 fiscal year. Appropriates $1,000,000 from the Elections Special Projects Fund to the State Board of Elections for operational expenses, grants, and reimbursements. Appropriates $4,973,500 from the Personal Property Tax Replacement Fund to the State Board of Elections for its ordinary and contingent expenses. Appropriates $11,661,100 from the Help Illinois Vote Fund to the State Board of Elections for implementation of the Help America Vote Act of 2002. Effective July 1, 2026.

Amends the Property Tax Code. Provides that, beginning with taxable year 2027, the long-time occupant homestead exemption applies in all counties. Effective immediately.