Tax Expenditure Report For Fiscal Year Ended June 30, 2024
Information
Title
Tax Expenditure Report For Fiscal Year Ended June 30, 2024
Description
Illinois law states that a tax expenditure “is any tax incentive authorized by law that by exemption, exclusion, deduction, allowance, credit, preferential tax rate, abatement, or other device reduces the amount of tax revenues that would otherwise accrue to the State.” Hundreds of expenditures approved by legislators and governors have been implemented over the years to assist individuals, taxpayers, and businesses.