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SB 2510 - Appropriates $55.2 Billion for the 2026 State Budget - Illinois Key Vote

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Title: Appropriates $55.2 Billion for the 2026 State Budget

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that appropriates $55.2 billion to the state budget for 2026 in Illinois.

Highlights:

  • Appropriates $55.2 billion to the state budget for 2026 in Illinois (Sec. 5).

  • Expands state taxes on foreign and out-of-state income for businesses, raises tax rates on tobacco, vapes, and sports gambling, and sweeps fund balances from several lesser-known and utilized state funds (Sec. 5).

  • Establishes a tax of 25 cents per wager for a sports betting licensee's first 20,000 wagers accepted, and 50 cents per wager after that (Sec. 5).

  • Increases the tax rate on tobacco products from 36% to 45% (Sec. 5).

  • Repeals a "safe harbor" exemption for businesses that move money outside the state (Sec. 5).

  • Increases funding for safety-net hospitals with federal Medicaid funding cuts possible (Sec. )5.

  • Establishes a new $100 million fund that the governor can tap into "in the event of unanticipated delays in or failures of revenues." (Sec. 5).

  • Specifies that the provisions of this bill shall take effect beginning July 1, 2025 (Sec. 999).

Full Bill Text

See How Your Politicians Voted

Title: Appropriates $55.2 Billion for the 2026 State Budget

Vote Smart's Synopsis:

Vote to amend and pass a bill that appropriates $55.2 billion to the state budget for 2026 in Illinois.

Highlights:

  • Appropriates $55.2 billion to the state budget for 2026 in Illinois (Sec. 5).

  • Expands state taxes on foreign and out-of-state income for businesses, raises tax rates on tobacco, vapes, and sports gambling, and sweeps fund balances from several lesser-known and utilized state funds (Sec. 5).

  • Establishes a tax of 25 cents per wager for a sports betting licensee's first 20,000 wagers accepted, and 50 cents per wager after that (Sec. 5).

  • Increases the tax rate on tobacco products from 36% to 45% (Sec. 5).

  • Repeals a "safe harbor" exemption for businesses that move money outside the state (Sec. 5).

  • Increases funding for safety-net hospitals with federal Medicaid funding cuts possible (Sec. )5.

  • Establishes a new $100 million fund that the governor can tap into "in the event of unanticipated delays in or failures of revenues." (Sec. 5).

  • Specifies that the provisions of this bill shall take effect beginning July 1, 2025 (Sec. 999).

Full Bill Text

Title: Appropriates $55.2 Billion for the 2026 State Budget

Title: Appropriates $55.2 Billion for the 2026 State Budget

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