IL HB0295

Requires bill sponsors to inform the Legislative Reference Bureau when submitting drafting requests for any new Act that creates a new tax or fee or increases an existing tax or fee.

Mandates sponsors provide a statement of legislative intent describing each new or increased tax or fee and the reason for it.

Requires the short title of any such Act include the words "Tax Increase," "Fee Increase," or "Tax and Fee Increase."

Directs the Legislative Reference Bureau to include the sponsor's statement of legislative intent in the Act immediately following the short title, note the tax or fee impact in bill synopses, and affix a stamp or indicator on the first page of bills subject to this Act.

Applies the same requirements to amendatory Acts that create new taxes or fees or increase existing ones, effective immediately upon passage.