Nearly 200 new laws are going into effect beginning on New Year’s Day in Illinois, and several of those bills could have a direct impact on your pocketbook in 2023.
Whether it’s the return of the state’s grocery tax, or the increase in the state’s minimum wage, a variety of laws will have an effect on your money in the new year, and we’re breaking down those new laws.
As part of the state’s fiscal year 2023 budget, an inflation-tied increase to Illinois’ gas tax was delayed by six months, and the 1% sales tax on grocery items was suspended for a year.
Both of those increases will take effect at different points in the year. The gas tax will increase by 3.2 cents per gallon due to an 8.2% year-over-year increase in the Department of Labor’s Consumer Price Index, bringing the total tax per gallon to 42.4 cents beginning on Jan. 1.
A second increase is expected to go into effect on July 1, according to officials. The state’s gas tax is now indexed for inflation thanks to a 2019 infrastructure bill.
Meanwhile, the state’s 1% sales tax on grocery items will also go back into effect on July 1, impacting food, beverages and more.
185 new laws are set to take effect in Illinois on Jan. 1, with many of them bringing the state new programs, safety measures or industry-specific policies. However, there are a few that are a little less traditional. Sandra Torres has more.
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