IL HB4847

Creates the University of Illinois Cancer Center Fund as a special fund in the State treasury to support cancer research, patient care, and operating expenses of the Cancer Center

Beginning July 1, 2026, allocates 2% of revenues from the Cigarette Tax Act, Cigarette Use Tax Act, and little cigar taxes to the new University of Illinois Cancer Center Fund

Reduces the General Revenue Fund allocation from 25% to 23% to accommodate the new 2% cancer research allocation

Maintains existing distributions to other funds: 7% to Common School Fund, 34% to Healthcare Provider Relief Fund, and 34% to Capital Projects Fund

Takes effect immediately upon becoming law