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HJR 21

FY26 HOUSE REVENUE ESTIMATE

104th Regular Session Introduced by Norine Hammond and 1 co-sponsor

Illinois House Joint Resolution establishing the official FY2026 state revenue forecast to guide annual budget and spending allocations.

Added Co-Sponsor Rep. Tony M. McCombie
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Bill Summary · HJR 21

Legislative bill overview

HJR 21 is a House Joint Resolution that establishes the official revenue estimate for Illinois state government in fiscal year 2026. This procedural measure sets the baseline projection of anticipated state revenues that will guide budget appropriations and fiscal planning for that fiscal year.

Why is this important

The revenue estimate is a critical foundational document in state budgeting—it determines how much money lawmakers believe will be available to spend on state programs, services, and obligations. An underestimated revenue forecast can lead to budget shortfalls and service cuts mid-year, while an overestimated forecast can result in spending commitments that cannot be sustained, creating fiscal crises.

Potential points of contention

  • Optimism bias: Revenue estimates historically tend toward optimism or pessimism depending on which party controls the process, potentially masking realistic fiscal conditions
  • Economic assumptions: Projections depend heavily on assumptions about economic growth, unemployment, inflation, and tax collections that are inherently uncertain
  • Political incentives: The sponsoring party may have incentives to present rosier revenue pictures to justify preferred spending levels or avoid politically difficult spending reductions

Compiled from official sources — confirm details with the bill’s official record.

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