The Illinois Family Relief Plan went into effect on Friday, July 1, 2022, allowing residents to save on gas, groceries, property taxes, and school supplies with tax holidays. The relief plan suspended the 2-cent gas tax increase until this month and removed the 1% state sales tax on groceries.
Property tax rebates were given to individuals who received their 2021 Illinois tax returns. The amount is equal to their property tax credit. Married joint-filing couples with an income of less than $500,000 are qualified to receive as well as those who file individually earning less than $250,000. Residents who made less than $200,000 will receive an income tax rebate worth $50 while couples who jointly filed will receive $100 if their income is less than $400,000.
Lower-income families were given permanent relief by lowering the amount of taxes they own and increasing their tax returns. The state expanded the household number covered, putting $100 million in rebates back into the pockets of needy families.
The relief bill also put $1 billion into the state Rainy Day Fund and $500 million in additional pension payments. According to majority leader Greg Harris (D- Chicago), the bill balanced the budget of the state, which increased funding for local schools, seniors, higher education, and healthcare and raised the credit rating.
Income and property tax rebates were automatically issued to all who qualify. The issuing of rebates and cutting checks began in the week of September 12th, and distribution took roughly 8 weeks.
Lt. Governor Juliana Stratton said that the people of the state deserve to know that they are not on their own amid historic rates of inflation. Illinois acts to ease the burden of the residents on buying food, and gas and making ends meet. The $1.8 billion in tax relief ensures that Illinoisans are seen and supported.
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