Illinois HB2897 amends the Illinois Income Tax Act to adjust the distribution of income tax revenue among various state funds.
HB2897 modifies the Illinois Income Tax Act by changing the distribution percentages of income tax revenue among different state funds. Effective July 1, 2025, the Department of Revenue will deposit 10% of net revenue from income taxes into the Local Government Distributive Fund. The bill also specifies percentages for deposits into the Education Assistance Fund, the Income Tax Surcharge Local Government Distributive Fund, and the Commitment to Human Services Fund.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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