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The original item was published from 7/15/2022 8:34:00 AM to 9/2/2022 12:00:00 AM.
News Flash
Treasurer's Office News
Posted on: April 12, 2022[ARCHIVED] Illinois lawmakers pass Tax Relief Package
On April 9th, Illinois lawmakers approved a Tax Relief Package that includes:
- A six-month suspension of the state's scheduled 2-3 cent Motor Fuel Tax increase (July 1, 2022 through December 31, 2022). NOTE: Local tax collections will not be negatively impacted.
- A one-year suspension of a 1% sales tax on groceries (pharmaceuticals are exempted). This will not negatively impact local tax collections as the package establishes a new Grocery Tax Replacement Fund which reimburses local units of government.
- A one-time property tax rebate (up to $300 for specified taxpayers) and a one-time income tax rebate of $50 for single filers, $100 for joint filers, with an added $100 for each dependent (up to three) for select taxpayers based on their adjusted gross income.
- A "back-to-school" sales tax holiday on school supplies (August 5, 2022 through August 14, 2022). NOTE: Local tax collections will not be negatively impacted.
- The portion of the state's income tax going to local governments in the Local Government Distributive Fund (LGDF) would increase slightly from 6.06 percent to 6.16 percent.