Illinois quick hits: Tax receipts increase $1.5 billion year-over-year

Tax receipts increase $1.5 billion year-over-year

Citing a report by the Illinois Commission on Government Forecasting and Accountability, the National Federation of Independent Business says state tax collections through December are up more than $1.5 billion year-over-year from fiscal year 2025.

The report says personal income tax collections are up more than half a billion, sales tax collections are up $300 million and estate tax collections are up $174 million.

Corporate income tax collections, however, are down $183 million.

Gross corporate income tax revenues declined by $104 million last month compared with last December, a decrease of 11.0%.

Chicago community development grants announced

Chicago Mayor Brandon Johnson has announced $33 million in grants for community development projects.

The grants include millions for a gun violence prevention nonprofit, for a craft brewery, for the Little Village Chamber of Commerce and for a content production studio.

Johnson said Tuesday that the city...