Illinois lawmakers have approved a nearly $56 billion state budget following an overnight legislative session that began Sunday evening and continued into the early hours of Monday morning.

The $55.9 billion spending plan includes less spending than Governor JB Pritzker proposed in February and is supported by a similar amount of projected revenue. House Bill 111, the budget measure, passed the Illinois Senate 37-21 shortly after 3 AM Monday and cleared the House 76-39 at approximately 4:15 AM. Lawmakers then moved on to the budget implementation bill, House Bill 2949.

The revenue package, Senate Bill 3019, passed the House 73-41 around 11:15 PM Sunday and was approved by the Senate around 12:30 AM Monday. Both votes were supported entirely by Democrats.

No Republican lawmakers voted for the budget, although some said they were more involved in the budget process than in recent years. The plan also includes an $830 million supplemental spending package for the current fiscal year.

Democrats had sought broader revenue measures, including taxes on large corporations and billionaires, but ultimately approved provisions that freeze corporate net operating losses and impose taxes on social media companies, digital assets, fantasy sports, tobacco products, and sports betting on prediction market websites.

To address affordability concerns, lawmakers delayed a planned 1.3-cent gas tax increase from July 1 until January and created a sales tax holiday on school supplies from August 7 through August 16. Republicans argued the relief measures do not go far enough, noting the gas tax increase will still take effect after the upcoming elections.

The budget was developed amid economic uncertainty tied to federal policy changes and international tensions, including the war in Iran. Budget analysts have recently lowered expectations, citing growing pessimism about the economy.

The plan also increases total funding for local governments by maintaining their share of state income tax revenue at 6.47%, allowing payments to grow through natural revenue increases. Governor Pritzker had proposed reducing that percentage.

Additional funding is included for K-12 education, higher education, pensions, and evidence-based school funding.

For complete details on the legislation, visit www.ilga.gov and select "Current Legislation" to view the budget-related bills.