Illinois lawmakers sent Gov. J.B. Pritzker legislation enacting most of the revenue-raising features of his proposed fiscal year 2025 budget, including a higher cap on corporate net operating loss deductions, higher taxes on sports-betting company receipts, and a revamped grocery tax system.The revenue plan, HB 4951, passed the House 60-47 early Wednesday. Democrats, who control the chamber with a 78-seat supermajority, had to scramble several times to gather the minimum 60 votes needed to pass the bill just after 4:30 a.m. local time. Earlier in the day the House approved the $53.1 billion appropriations bill, SB 251, …<\/p>\n","protected":false},"excerpt":{"rendered":"
Illinois lawmakers passed legislation enacting most of the revenue-raising features of Gov. J.B. Pritzker’s proposed fiscal year 2025 budget, including a higher cap on corporate net operating loss deductions, higher taxes on sports-betting company receipts, and a revamped grocery tax system.<\/p>\n","protected":false},"author":6,"featured_media":13611,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[3492,1766,4117,7343,11639,5098,9092,9046,11637,2685,148,5527,9569,5612,11638,421,1065,4507,5681,1183,6305],"class_list":["post-13610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-bill","tag-budget","tag-democrats","tag-fiscal-year","tag-fiscal-year-2025-budget","tag-governor","tag-higher-taxes","tag-house","tag-illinois-lawmakers","tag-legislation","tag-local","tag-loss","tag-receipts","tag-revenue","tag-revenue-raising-features","tag-sports","tag-tax","tag-tax-changes","tag-tax-system","tag-taxes","tag-who"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\n