IFCA Legislative Update --- Adjournment in Sight
State lawmakers are trying to finish the Spring Session by the end of today (April 8). Lawmakers are trying to wrap-up the state’s business to get back home and campaign for their re-election leading up to the June 28 primary election. IFCA believes both the Senate and House will be in session late today to try and vote and pass the budget.
Illinois Democratic leaders have reached a deal on the FY23 budget, which will include $1.83 billion in largely temporary tax relief, $1 billion for the state’s rainy-day fund, and an additional $200 million in payments for pension obligations.
In a joint press conference yesterday, Gov. J.B. Pritzker, Senate and House Democrats detailed their compromise bill.
The final budget bill will include the following:
- A one-year suspension of the sales tax on groceries.
- A six-month freeze on the motor fuel tax.
- A $300 property tax rebate for homeowners.
- A permanent expansion of the earned income tax credit.
- Income tax rebates amounting to $50 per individual and $100 per dependents (up to $300).
- A back-to-school sales tax holiday amounting to $50 million in taxpayer savings.
House Democrats on Wednesday outlined their own package of nearly $1.4 billion in tax cuts. That plan fell squarely in the middle of the $1 billion in cuts Gov. J.B. Pritzker highlighted in his February budget proposal and the $1.8 billion that state Senate Democrats pitched last week.
As we previously informed IFCA members, this past last Thursday the House Energy and Environment Committee did hold a subject matter hearing on HB4363 (banning dicamba in the state of Illinois). IFCA does not see HB4363 or any other pesticide or fertilizer related legislation moving this spring session. IFCA will be watching HB4363 closely this fall veto session.
As always, if you have questions regarding any legislation at the state capitol, please contact KJ Johnson at kj@ifca.com or 309-827-2774.