summary
Introduced
02/07/2025
02/07/2025
In Committee
02/18/2025
02/18/2025
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Creates the Cost of Living Task Force Act to analyze driving factors in Illinois that may increase the costs of living, including stagnant unemployment, costs of groceries, rising consumer prices, housing, health care, utilities, transportation, and taxes. Sets forth provisions concerning membership of the Task Force. Provides that the Task Force shall elect a chairperson from among its membership and any other officer it deems appropriate. Requires the Department of Commerce and Economic Opportunity to provide technical support and assistance to the Task Force and to implement the provisions of the Act. Provides that members of the Task Force shall receive no compensation for their services on the Task Force. Requires the Task Force to meet at least once per quarter beginning as soon as practicable after the effective date of the Act. Requires the Task Force to submit a report to the General Assembly and the Governor no later than November 1, 2028 that includes legislative reforms; private sector incentives; regulatory reforms; new funding avenues; reducing taxes; and identifying current barriers and factors hurting the cost and affordability of doing business in Illinois. Dissolves the Task Force upon filing of the report.
AI Summary
This bill creates the Cost of Living Task Force Act to address rising living expenses in Illinois by establishing a diverse 12-member task force composed of state legislative representatives, business association appointees, and a government official. The Task Force will comprehensively analyze factors driving increased living costs, including unemployment, grocery prices, housing, healthcare, utilities, transportation, and taxes, by comparing Illinois metrics to federal and neighboring state data. Members will meet quarterly and collaborate with policy experts, using research from organizations like the Bureau of Economic Analysis and U.S. Labor Statistics to identify potential solutions. The Task Force is required to submit a detailed report to the General Assembly and Governor by November 1, 2028, which will recommend legislative reforms, private sector incentives, regulatory changes, potential new funding sources, tax reduction strategies, and recommendations for improving Illinois' business affordability. Task Force members will serve without compensation, with the Department of Commerce and Economic Opportunity providing technical support, and the Task Force will automatically dissolve after submitting its report, reflecting the state's commitment to understanding and mitigating economic challenges facing Illinois residents.
Sponsors (1)
Last Action
Referred to Rules Committee (on 02/18/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3543&GAID=18&DocTypeID=HB&SessionID=114&GA=104 |
| BillText | https://www.ilga.gov/legislation/104/HB/10400HB3543.htm |
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