THE PRITZKER
TAX CLOCK

Gas-tax method: gasoline and diesel pump-tax increases are counted separately: eight gasoline increases plus eight diesel increases on eight effective dates, adding 16 entries to the 73-count. Each fuel’s annual and running revenue estimate equals its incremental rate multiplied by FHWA’s 2024 Illinois net taxable volume: 4.264763 billion gasoline gallons and 1.509709 billion special-fuel gallons, with special fuel used as the diesel-volume proxy. These are modeled estimates, not reported collections.

SB 1939 transportation package: lines 3–23 are grouped for readability without changing the 73-count. The package contains 16 fuel-specific increases—eight gasoline and eight diesel—plus title, passenger-vehicle registration, trucking registration, electric-vehicle registration and parking-tax increases. The collapsed row shows the package’s modeled cumulative collections; the expansion preserves each underlying effective date, revenue estimate and bill citation.

Start dates and future activation: exact statutory or administrative effective dates are used where available. A row marked “modeled” uses July 1 of its listed year. Future-dated estimates remain at $0.00 until their start date, then begin accruing automatically without a site update.

Official-source backfill: missing line-item estimates were researched against CGFA budget summaries, Comptroller fund receipts, IDOR reports and bulletins, and the Illinois Gaming Board. These detail estimates are already contained within the top-down Illinois Policy state-tax series used by the headline clock, so they are not added a second time. Items that official reports combine with another tax base remain excluded from line-item sums and say why in their expanded view.

HB 4951 backfill: the NOL row annualizes the official $526M FY2025 forecast from Dec. 31, 2024 through calendar 2026, without overlapping the earlier NOL row. This is a constant-rate detail model, not reported receipts. The lease row shows the official $20M FY2025 budget effect without extrapolating it to a current annual or cumulative amount. The two fuel extensions have no separate dollar model. The headline clock is unchanged.

FY2022 corporate package: lines 37–40 are grouped and allocated using the State’s official $655 million estimate: $314 million for the NOL cap, $214 million for bonus-depreciation decoupling, $107 million for foreign-source dividends and $20 million for the franchise-tax phaseout freeze. Running amounts annualize those FY2022 estimates; they are not reported collections.

SB 690 gambling package: lines 27–30 are grouped consecutively without changing the 73-count. The counter attributes four percentage points of video-gaming net terminal income to SB 690, preserves the original 15% sports-wagering tax as the SB 690 share, and uses CGFA’s reported sports-license fees. The casino rate restructuring is shown but contributes $0 because CGFA found it reduced State revenue compared with the prior structure. Later sports-wagering and video-gaming increases remain separate ledger entries.

Tips and overtime: Illinois did not enact a separate add-back for the new federal deductions. The federal deductions occur after adjusted gross income, while Illinois begins its individual-income-tax calculation with federal AGI. Illinois therefore continues taxing qualified tips and overtime, but that continuation is not counted as a new Illinois tax hike. The enacted $144 million business-expensing decoupling is counted separately.