Creates the Reducing Barriers to Start Act. Beginning January 1, 2026, this State shall encourage the elimination of all first-year business fees relating to any license or registration for any new business or person establishing a new business, including home-based businesses, whose principal place of business is in this State.
Creates the Revenue Estimate Act. Provides that the General Assembly shall not enact any bill to appropriate funds within any fiscal year prior to its adoption of a joint resolution reflecting the estimate of funds available for that fiscal year as required under the Commission on Government Forecasting and Accountability Act. Effective immediately.
Amends the Illinois Income Tax Act. Creates an income tax deduction for 50% of the amount contributed by the taxpayer to a small business asset purchase account during the tax year, but not to exceed $50,000 per taxpayer in any tax year. Defines "small business asset purchase account". Provides an addition modification for 50% of the amount that is withdrawn by the taxpayer from a small business asset purchase account during the taxable year. Amends the Uniform Penalty and Interest Act to establish a penalty for improper use of moneys in a small business asset purchase account.
Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that, for the purposes of those Acts, a corporation, limited liability company, society, association, foundation, or institution organized and operated exclusively for educational purposes shall include nonprofit corporations that solely conduct extracurricular activities on behalf of tax-supported public schools.
Amends the Illinois Insurance Code. Provides that a group health plan or an accident and health insurer offering group or individual health insurance coverage shall not discriminate with respect to participation under the plan or coverage against any health care provider who is acting within the scope of that provider's license or certification under applicable State law. Provides that nothing in the provisions shall be construed as preventing a group health plan, an accident and health insurer, or the Director of Insurance from establishing varying reimbursement rates based on quality or performance measures.
Amends the Illinois Income Tax Act. Creates an income tax deduction for any amounts paid by the taxpayer's employer on behalf of the taxpayer as part of an educational assistance program. Creates an income tax deduction for any amounts paid by the taxpayer on behalf of an employee of the taxpayer as part of an educational assistance program. Provides that the deductions are limited to the first $5,250 of such assistance so furnished to any individual. Effective immediately.
Creates the Preserving Illinois Neighborhoods Act. Provides that, for taxable years that begin on or after January 1, 2026 and end on or before December 31, 2031, qualified taxpayers who incur qualified new construction expenditures or qualified rehabilitation expenditures during the taxable year are entitled to a credit. Effective immediately.
Amends the Criminal Code of 2012. In the statute concerning theft of labor or services or use of property, provides that the notification to return the vehicle, equipment, or other personal property to a particular place at a particular time specified in the notification may be made by electronic means, including email. Includes in a violation of the provision, placing the vehicle, equipment, or any other personal property for sale during the rental period or thereafter without good cause. Provides that for a violation of the provision, the court may order the person convicted to reimburse the victims or their representatives for court filing costs, attorney's fees, and such other related costs.
Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. In a provision concerning suspensions of retirement annuities during employment with a participating employer, provides that, until January 1, 2030, an annuitant receiving an annuity under the sheriff's law enforcement employees provisions shall be considered a participating employee if the annuitant returns to work as a school security guard or school resource officer employed by a participating employer and works more than 1,000 hours annually. Effective immediately.
Amends the Illinois Controlled Substances Act. Schedules xylazine as a Schedule III controlled substance. Provides that notwithstanding the scheduling of xylazine as a Schedule III controlled substance, xylazine shall not be considered a controlled substance when: (1) used by licensed Illinois veterinarians dispensing or prescribing for, or administering to, a nonhuman species of a drug containing xylazine that has been approved by the U.S. Food and Drug Administration; (2) used by licensed Illinois veterinarians dispensing or prescribing for, or administering to, a nonhuman species that is permissible under the Federal Food, Drug, and Cosmetic Act; (3) manufactured, distributed, or used as an active pharmaceutical ingredient for manufacturing an animal drug approved under the Federal Food, Drug, and Cosmetic Act; (4) used by a licensed certified euthanasia technician employed by a certified euthanasia agency; or (5) used by a wildlife biologist engaged in legal or authorized fieldwork under the indirect supervision of a veterinarian.
