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HJR 64

FY27 HOUSE REVENUE ESTIMATE

104th Regular Session Introduced by Norine Hammond

The bill formalizes Illinois’ official FY2027 revenue forecast using CGFA projections (excluding Governor-proposed increases) to guide appropriations.

Referred to Rules Committee
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Bill Summary · HJR 64

Overview

  • Bill: HJR 64 (104th General Assembly, Illinois)
  • Type: House Joint Resolution
  • Subject: FY27 House Revenue Estimate
  • Purpose: Adopt and publish the Illinois General Assembly’s official projection of funds available for State Fiscal Year 2027, using forecasts provided by the Commission on Government Forecasting and Accountability (CGFA), excluding any Governor-proposed revenue enhancements.
  • Sponsors: Primary sponsor Rep. Norine Hammond (co-sponsor)

Main purpose and intent

  • To establish the State’s official revenue estimate for FY2027, as required by the Illinois Constitution and the CGFA Act.
  • The estimate represents funds estimated to be available for the next fiscal year and is used to inform appropriations within the constitutional/administrative limits.
  • The resolution explicitly excludes revenue enhancements proposed by the Governor from the forecast used to generate the estimate.

Key provisions and changes

  • Establishes a FY2027 General Fund revenue projection using CGFA-provided projections.
  • The House estimate presents a detailed breakdown of expected General Funds and related revenue sources, in millions of dollars, and distinguishes between:
    • State tax revenues (net of refunds)
    • Transfers from the Cook County intergovernmental fund
    • Other state sources
    • Federal sources (added to total)
  • Revenue sources (illustrative totals from the bill):
    • Personal Income Tax (net of refunds): $28,959 million
    • Corporate Income Tax (net of refunds): $4,432 million
    • Sales Tax: $10,942 million
    • Public Utility (regular): $695 million
    • Cigarette Tax: $165 million
    • Liquor Gallonage Taxes: $165 million
    • Inheritance Tax (gross): $685 million
    • Insurance Taxes & Fees: $675 million
    • Corporate Franchise Tax & Fees: $170 million
    • Interest on State Funds & Investments: $600 million
    • Cook County Intergovernmental Transfer: $244 million
    • Other State Sources: $838 million
    • Subtotal State Sources: $48,570 million
    • Transfers (lottery, gaming, sports wagering, cannabis, refund fund, other): $2,884 million
    • Total State Sources (sum of above): $51,454 million
    • Total Federal Sources: $4,072 million
    • Total Federal & State Sources: $55,525 million

Note: The figures above are presented as the House’s stated estimate for FY2027 and reflect the explicit exclusion of any Governor-proposed revenue enhancements from the projection.

Who/what is affected

  • State budget planning and appropriations process for FY2027.
  • General Assembly members and staff, CGFA (forecasting) process, and budgeting bodies that rely on the official revenue estimate.
  • Government departments that prepare spending plans based on the revenue forecast.
  • Fiscal transparency and constitutional budgeting framework, since the estimate informs available funds within statutory limits.

Procedural and timeline aspects

  • Action history:
    • Filed: May 5, 2026
    • Referred to Rules Committee: May 6, 2026
  • Role of CGFA: The Joint Resolution uses CGFA projections to determine the official estimate of funds available for FY2027.
  • Constitutional context: Aligns with Article VIII, Section 2(b) and Section 4(a) of the CGFA Act, which govern how revenue estimates are prepared, adopted by joint resolution, and used to define available funds for the next fiscal year.
  • Notable limitation: The estimate expressly excludes any Governor-proposed revenue enhancements from the forecast.

Summary in plain language

HJR 64 formalizes the Illinois General Assembly’s official forecast of funds available for the state’s FY2027 budget. It relies on CGFA projections and provides a detailed breakdown of anticipated revenue from various state taxes, fees, and intergovernmental transfers, plus anticipated federal funds. The resolution excludes any revenue increases proposed by the Governor from the forecast. This official estimate guides the Assembly’s appropriations decisions and ensures budgeting adheres to constitutional and statutory forecasting requirements.

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

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