IL SB3462

Establishes the Guaranteed Income Implementation Board within the Department of Human Services with 17 members including legislators, agency officials, guaranteed income program participants, advocates, and community organization representatives to evaluate guaranteed income efficacy and propose permanent statewide programs by December 31, 2026.

Board appointments must be completed by August 31, 2024, with the board meeting at least 6 times per year and dissolving on December 31, 2027.

Creates the Guaranteed Income for Illinois Program providing $1,000 monthly cash benefits to eligible Illinois residents regardless of immigration status who: (1) care for a child, elderly dependent, disabled dependent, or formerly incarcerated individual; (2) recently gave birth or adopted; or (3) are enrolled in educational or vocational programs.

Prioritizes high-priority applicants experiencing qualifying life events including homelessness, poverty, housing transitions, becoming a parent within 3 years, or supporting a recently released formerly incarcerated family member.

Participants may renew benefits after 12 months if still eligible and will be phased out if experiencing substantial income changes, no longer meeting eligibility criteria, or completing 3 renewals as a new parent.