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| | 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB3338 Introduced 2/18/2025, by Rep. Thaddeus Jones SYNOPSIS AS INTRODUCED:
| | 20 ILCS 2505/2505-820 new | |
| Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Provides that the Department of Revenue, in consultation with the Governor's Office of Management and Budget, shall conduct a study to determine the feasibility of eliminating, by no later than January 1, 2030, the property tax system in the State and replacing that revenue with income tax receipts. |
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| | A BILL FOR |
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| | HB3338 | | LRB104 08368 HLH 18419 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Department of Revenue Law of the Civil |
| 5 | | Administrative Code of Illinois is amended by adding Section |
| 6 | | 2505-820 as follows:
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| 7 | | (20 ILCS 2505/2505-820 new) |
| 8 | | Sec. 2505-820. Property tax replacement feasibility study. |
| 9 | | Notwithstanding any other provision of law, the Department, in |
| 10 | | consultation with the Governor's Office of Management and |
| 11 | | Budget, shall conduct a study to determine the feasibility of |
| 12 | | eliminating, by no later than January 1, 2030, the property |
| 13 | | tax system in the State and replacing that revenue with income |
| 14 | | tax receipts. The study shall (i) examine other states that do |
| 15 | | not allow for the imposition of taxes against real property |
| 16 | | and (ii) propose spending cuts or an increased income tax rate |
| 17 | | to facilitate the change. |