Illinois Gov. J.B. Pritzker has unveiled his $41.5 billion infrastructure plan, “Rebuild Illinois.”
The plan calls for spending on transportation, education, public health and other infrastructure projects over a six-year period, which would be funded by new or increased taxes and fees, such as a gas tax increase, streaming tax and real estate transfer tax. Others funding sources could include raising registration fees for both traditional and electric vehicles; doubling the tax on real estate transfers of nonresidential property from 50 cents to $1 for each $500 in market value; imposing a new tax of $1 per ride on ride-sharing services such as Uber and Lyft; imposing a new 7 percent tax on cable, satellite and streaming services; raising the state’s liquor gallonage tax; adding a new tax on parking garage fees; removing the sales tax exemption on the value of traded-in property; and dedicating a portion of a proposed video gambling terminal tax increase to the capital plan.
The proposal is a “preliminary draft” of what a final capital bill could look like.
“As a result of working group sessions with lawmakers on both sides of the aisle from both chambers of the General Assembly, the administration is working on a preliminary draft of a comprehensive capital plan that will put 540,000 Illinoisans back to work and finally fix our crumbling infrastructure,” Pritzker’s press secretary, Jordan Abudayyeh, said in a statement. “The administration looks forward to continuing to engaging in productive conversations before the proposal is finalized.”
To review the full outline of the plan, click here.