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Illinois lawmakers push to lower medical cannabis tax with new bill
Illinois lawmakers push to lower medical cannabis tax with new bill

Yahoo

time30-03-2025

  • Business
  • Yahoo

Illinois lawmakers push to lower medical cannabis tax with new bill

SPRINGFIELD, Ill. (WTVO) — Illinois lawmakers have proposed a bill that would change the tax code to reflect other prescription drug taxes. The would amend the Retailers' Occupation Tax Act to recognize cannabis as prescription and nonprescription medicine and drugs as long as a buyer purchases it from a dispensary and has a medical cannabis card. The proposal would also amend the Cannabis Regulation and Tax Act to stop certain cannabis infused products being used for medicinal purposes from being taxed twice. The bill was proposed by Illinois Rep. Sonya Harper (D) on January 10th. The potential law was referred to the House Rules Committee on January 28th. If signed into law, the changes would take effect at the start of 2027. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Illinois residents could get reparations if a new bill is passed
Illinois residents could get reparations if a new bill is passed

Yahoo

time31-01-2025

  • Business
  • Yahoo

Illinois residents could get reparations if a new bill is passed

Ill. (WTVO) — Companies in Illinois with historical ties to slavery could have to pay reparations to residents. Illinois's Chicago Representative Sonya Harper has named the legislation the . The plan would require corporations to provide a statement regarding contributions to a redress fund that would go to the black community. The city of is the first in the nation to take part in a reparations program. The city provides reparations to black residents in cash for past unfair treatment and practices. The program is being challenged in court. Harper gave a straightforward description of what the bill would accomplish. 'This is an effort to pay those who were enslaved family members their share of reparations for the harm their family members endured during slavery,' Harper said during a news conference Tuesday. The Illinois Office of Equity would be in charge of overseeing the redress ordinance. 'If we are going to be honest today, our honesty requires us to look truthfully at the American story and reshape it to its actual facts so that people will know that you are not giving us a handout,' said Illinois's Urbana Representative Carol Ammons. 'You're giving us what is deserved to those who are descendants of the enslaved.' The bill would also provide notices for public hearings about the disclosures. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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