• Amends the Illinois Finance Authority Act o Authorizes the IFA to finance or refinance any accounts receivable, working capital, liability, insurance or noncapital cost or operating expense for any local unit of government, health institution, higher education institution, academic/cultural/other institution o Expands the IFA’s financing to support clean water projects, drinking water projects, waste- water treatment projects, or climate resilience projects • Amends the Climate Bank Loan Financing Act o Adds climate resilience projects to eligible programming • Amends the Property Tax Code o Expands and modifies the affordable housing special assessment program o Provides that in Cook County, the application for judgement and order of sale for the 2023 annual tax sale that would normally be held in calendar year 2025 shall be filed on or before March 10, 2026. Prohibits interest from accruing between 9/2/25-4/1/26 on delinquent warrant year 2023 tax balances. o Adds language concerning information required to be provided to property tax owners on their PTAX bill concerning TIF projects • Amends the River’s Edge Act o Adds RERZ zones in the City of Alton and City of Sterling • Amends the Electric Vehicle Rebate Act o Expands eligibility, reduces max award of the rebate, and includes EV motorcycles Additionally, provides a $2,000 rebate for new or used vehicles for low-income appli- cants • Amends the Film Production Services Tax Credit Act o Modifies the application of the “above-the-line-spending,” “below-the-line” spending, and makes other enhancements to the Film Tax Credit • Creates the Advancing Innovative Manufacturing for Illinois Tax Credit • Amends the DCEO Administrative Code o Makes modifications to the quantum computing campus operating language • Amends the REV in Illinois Act o Expands eligible projects to include renewable energy products manufacturing, eVTOL man- ufacturing, battery recycling and reuse manufacturing, green steel manufacturing, electrical transformer and transformer component part manufacturing, component part providers, and battery raw materials refining service providers, and other projects • Makes changes to the Apprenticeship Education Expense Credit • Makes changes to the EDGE Tax Credit o Allows for certain green steel manufacturing projects to be eligible for an EDGE withholding tax credit o Expands the criteria for receiving EDGE—for a project that retains 500 employees, makes a $100 million capital investment, and places a new project site • Amends the Illinois Enterprise Zone Act o Makes changes to HIB to allow for HVDC current converter station facilities to be eligible for a HIB designation • Amends the Illinois Lottery Law o Extends the sunset of the Internet gaming program through July 1, 2028 (currently, July 1, 2025) Combined, the FY26 Revenue Omnibus presents a serious concern for taxpayers that currently rely upon legiti- mate protections in our tax code against possible double taxation and unfair treatment. A full overview of the provisions of the bill can be found here. 23 | END OF SESSION REPORT
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