• Instructs DHFS to provide notice to GOMB prior to making or agreeing to make any advance payment to any hospital; requires additional reporting • Creates a Budget Reserve for Immediate Disbursements and a Governmental Emergencies Fund (BRIDGE) to allow the Governor to provide supplemental moneys to other Funds in the event of unan- ticipated delays in or failures of revenues when supplemental money is required A full overview of the provisions of the bill can be found here. Substantive Tax & Finance Bills Ahead of the bill filing deadline in February, 6,375 bills were introduced in the House and Senate combined. Of those, the Chamber was tracking about 1,700 bills across several issue areas—the Tax Institute alone identi- fied almost 600 pieces of legislation. The 2025 Spring Legislative Session, all told, contained 20 meetings of the House Revenue and Finance Com- mittee and 7 hearings of the Senate Revenue Committee. While this allowed for some discussion on substan- tive bills throughout session, there were not many substantive hearings on legislation. As has now become customary, this year, the Revenue committees in each chamber employed the “subject matter hearing” mech- anism as a means to provide legislators with an opportunity to discuss pieces of legislation without taking a vote on them. Below are highlights of this year’s efforts. Bills Passed Both Houses • SB 1797 (Walker/Gonzalez) creates the Digital Assets and Consumer Protection Act. A proposal that was supported by the Governor’s Office and the Illinois Department of Financial and Professional Reg- ulation creates broad restrictions and guidelines on digital asset business activity that is not otherwise regulated by certain federal laws. The act broadly defines digital asset business activity as exchanging, transferring, or storing a digital asset; engaging in digital asset administration; and any other business activity involving digital assets designated by rule by IDFPR as may be necessary and appropriate for the protection of Illinois residents. The bill further outlines various powers the Department may utilize in the administration and regulation of the Act, including examinations, investigations, requirements for disclosures, exchanges oversight, compliance, and other oversight, including legal recourse. The bill Passed Both Houses on a largely partisan vote. It is expected to be signed into law by the Governor. The Chamber monitored the legislation. • SB 2319 (Ellman/Tarver) creates the Digital Assets Kiosks Act. Similar to SB 1797, the proposal seeks to regulate digital asset infrastructure by ostensibly protecting against fraud and scams in digital asset kiosk transactions by providing necessary registration requirements, disclosures, and other safeguards for consumers. The bill, which passed largely along partisan lines, Passed Both Houses and is expected to be signed into law. The Chamber monitored this legislation. • HB 742 (Croke/Walker) contains a one-year extension of the Interchange Fee Prohibition Act (pushed the legislation back to July 1, 2026). This is a law that the Chamber has long opposed after it was swiftly implemented under the FY25 Budget negotiations last year. The Chamber strongly supports any effort to stall or eliminate this onerous law. The bill is expected to be signed into law. Sent to the Governor. The Chamber supports. Major Legislation Stopped • One Fair Wage. HB 2982 (Hernandez, E.) was an effort by the One Fair Wage coalition that would have eliminated the subminimum wage for tipped workers in Illinois by 2027. The Chamber was strongly opposed to this effort when it unexpectedly passed out of House Executive. The controversial measure faced much opposition from industry and legislators on both sides of the aisle. The measure is likely not going away, but the Chamber and other industry business groups were instrumental in making sure the proposal did not pass at the state level after a phase-out of the tipped credit passed in the Chicago City Council in 2023. 25 | END OF SESSION REPORT
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