HB 5570

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Full Text of HB5570
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					HB5570 - 104th General Assembly
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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB5570
Introduced 2/13/2026, by Rep. La Shawn K. Ford
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 phasing out the use of property taxes as a funding source for school districts and replacing that revenue with other State and local revenue streams.
				LRB104 17593 HLH 31021 b
A BILL FOR
		HB5570		LRB104 17593 HLH 31021 b
1		    AN ACT concerning revenue.
2		    Be it enacted by the People of the State of Illinois,
3		represented in the General Assembly:
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:
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		phasing out the use of property taxes as a funding source for 
13		school districts and replacing that revenue with other State 
14		and local revenue streams, including, but not limited to, 
15		income taxes, estate taxes, real estate transfer taxes, 
16		cannabis taxes, use and occupation taxes, and capital gains 
17		taxes. The study shall (i) examine other states that do not 
18		primarily fund schools through property taxes and (ii) propose 
19		spending cuts or an increased revenue to facilitate the 
20		change.