North Cook News

State Rep. Jennifer Sanalitro (R-Bloomingdale) is throwing her support behind three tax proposals meant to lighten the burden on regular Illinoisans.

Sanalitor is "optimistic that these proposals will help create an economic environment that facilitates job creation, attracts investment, supports small businesses, and most importantly... lowers taxes." She encourages residents to "make Illinois a place you want to live, not leave.” 

"Our state – especially my region – is filled with great companies. These businesses provide fantastic products and services to not only the communities of Illinois, but communities across the country as well,” Sanalitro said in a press release. "Despite being a freshman in the General Assembly, I’ve noticed that Representatives from both sides of the aisle recognize that the tax burden on the average Illinoisan is too great. It prevents us from both creating an environment that attracts new investment while also preventing us from lowering costs for our state’s existing businesses.” 

HB3467 is one of three bills Sanalitro listed. It would amend the School Code and provide that "the State Board of Education shall establish and administer an annual program to award property tax relief grants to school districts in the State." 

Additionally, "in exchange for receiving a grant, the school district's maximum aggregate property tax extension for the taxable year that begins on Jan. 1 of the fiscal year for which the grant is awarded may not exceed a specified maximum aggregate property tax extension." It would also create the Education Property Tax Relief Fund "for the purpose of making appropriations for the grant program. Amends the State Finance Act to make conforming changes. Effective immediately.” 

HB3580 would amend the Illinois Income Tax Act and would provide "that the amendatory Act may be referred to as the Reshore Our Supply Chains Tax Reform Act."  It would, in specified provisions concerning base income, provide "that a taxpayer may claim a depreciation deduction for federal income tax purposes.” That bill would make it easier for taxpayers to write off expenses.

HB1459 would change the way estate taxes are levied. It would amend the Illinois Estate and Generation-Skipping Transfer Tax Act. It would provide that, "for persons dying on or after Jan. 1, 2024, the exclusion amount shall be the applicable exclusion amount calculated under Section 2010 of the Internal Revenue Code, including any deceased spousal unused exclusion amount (currently, the exclusion amount for Illinois estate tax purposes is $4,000,000).”