Bill would boost transparency of Illinois finances

Illinois House Bill 5896 would require more detailed reporting of how Springfield spends taxpayer money. It improves transparency, which is a step toward fiscal restraint.

Taxpayers may gain more insight into how Illinois state leaders spend their taxes under a bill filed by state Rep. Curtis Tarver II, D-Chicago.

House Bill 5896 , filed Oct. 23, would require the state to report on transfers made from one line-item to another within the same fund. Currently, the state only requires a transfer to be reported if it is made from one fund to another, such as from the General Fund to the Public Transportation Fund.

Transparency has been a recurring issue with state spending in Illinois, and budgeting gimmicks have too often hidden the true state of its finances from taxpayers. With the worst rainy-day fund in the nation, Illinois consistently spends more than it takes in.

The state has been saved from the worst consequences of its irresponsibility by billions in federal aid and unexpectedly high tax revenues, which have since been spent. The state needs all the spending transparency it can get, especially after passing a record $53.1 billion budget for 2025 that needed $1.1 billion in new taxes. The 2026 budget is projected to spend $3.2 billion more than the state will take in.

By documenting transfers within state funds as well as between them, HB 5896 would give taxpayers a better idea of how Springfield is spending their tax money. While it does not correct rampant state spending directly, passing HB 5896 would be a meaningful step towards more financial accountability in Springfield.