IL SB3851

Prescription medicines and FDA Class III medical devices used for cancer treatment pursuant to a prescription would be exempt from Use Tax, Service Use Tax, Service Occupation Tax, and Retailers' Occupation Tax.

Local Government Distributive Fund deposits from individual, trust, estate, and pass-through entity income taxes would increase from 6.47% to 7.47% of net revenue beginning August 1, 2026.

Local Government Distributive Fund deposits from corporate income taxes would increase from 6.85% to 7.85% of net revenue beginning August 1, 2026.

Effective date is July 1, 2026.