Bill > HB5570

This bill mandates that the Illinois Department of Revenue, in collaboration with the Governor's Office of Management and Budget (GOMB), conduct a study to explore the possibility of eliminating property taxes as the primary source of funding for school districts and instead using other state and local revenue sources. The study will examine how other states fund their schools without relying heavily on property taxes and will also propose potential spending reductions or revenue increases needed to make such a transition possible, considering various tax options like income, estate, real estate transfer, cannabis, use and occupation, and capital gains taxes.

https://www.ilga.gov/Legislation/BillStatus?DocNum=5570&GAID=18&DocTypeID=HB&SessionID=114&GA=104