Budget & Taxes (Tax Credits)

in committee · Illinois · House Aug 17, 2026

HB 3013: INC TX-FOSTER CARE

Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the foster care expenses, not to exceed $1,000 in any taxable year, paid or incurred by the taxpayer with respect to a qualified dependent child. Provides that the credit may be prorated. Provides that the credit is refundable if the taxpayer's federal adjusted gross income for the taxable year does not exceed $50,000. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates refundable income tax credit for foster care expenses under $50k AGI, providing direct tax relief to lower-income families caring for dependent children.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Illinois · House Mar 27, 2026

HB 1369: INC TX-CAREGIVERS

Creates the Caring for Caregivers Act. Provides that a taxpayer who is a family caregiver and who incurs eligible expenditures during the taxable year for the care and support of an eligible family member may apply to the Department of Revenue for an income tax credit. Provides that the credit shall be equal to 50% of the eligible expenditures incurred during the taxable year by the family caregiver for the care and support of an eligible family member, subject to certain specified limitations. Amends the Illinois Income Tax Act to make conforming changes. Effective January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 50% income tax credit for family caregivers' eligible care expenses, offering direct tax relief to middle-income caregivers per the bill's explicit tax credit provision.95% confidence ✓ HealthcareSupports HealthcareProvides 50% tax credit for family caregivers' expenses, reducing financial burden and supporting healthcare access for dependents.85% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Illinois · Senate Jun 13, 2025

SB 2093: INC TX-PROP TX CREDIT

SB 2093 amends the Illinois Income Tax Act by making the existing credit for residential real property taxes refundable. This means that if the amount of the credit exceeds a taxpayer's income tax liability, the taxpayer will receive the difference as a refund. This change directly affects Illinois residents who are eligible for the residential real property tax credit. The bill is effective immediately upon becoming law.

Topics ✓ Budget & TaxesSupports Budget & TaxesMakes residential property tax credit refundable, providing direct tax relief to eligible residents by refunding excess credit amounts.95% confidence ✓ HousingSupports HousingMakes residential property tax credit refundable, providing direct tax relief to homeowners and increasing housing affordability for eligible residents.95% confidence

Sub-Topics Tax Credits Property Taxes

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in committee · Illinois · Senate Jun 2, 2025

SB 240: PRESERVATION TAX CREDIT

Amends the Historic Preservation Tax Credit Act. Provides that, in calendar years beginning on or after January 1, 2026 and ending on or before December 31, 2028, the State Historic Preservation Office within the Department of Natural Resources may allocate $75,000,000 (currently, $25,000,000) in credits under the Act. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credit allocation from $25M to $75M for historic preservation, directly funding a public program via tax incentives.95% confidence

Sub-Topics Tax Credits Tax Incentives

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in committee · Illinois · House Apr 17, 2026

HB 1790: INC TX-FIREARM SAFETY

HB 1790 creates a state income tax credit for Illinois taxpayers who purchase qualifying firearm safety devices (like gun safes, lock boxes, or cases) from federally licensed dealers. The credit allows a nonrefundable deduction of up to $300 per taxpayer annually for eligible purchases made between 2026 and 2031, with a total annual limit of $5 million across all taxpayers. Unused credits can be carried forward for up to five years to offset future tax liability. This policy directly affects Illinois residents buying these safety devices, aiming to reduce their out-of-pocket costs through tax relief.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates a state income tax credit (tax relief) for firearm safety device purchases, directly impacting taxation policy with a $5M annual cap.90% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Illinois · Senate May 22, 2026

SB 2097: INC TX-ADOPTION

Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the foster care expenses, not to exceed $1,000 in any taxable year, paid or incurred by the taxpayer with respect to a qualified dependent child. Provides that the credit may be prorated. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates income tax credit for foster care expenses, providing tax relief to lower-income families. Directly modifies tax policy to reduce liability.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Illinois · Senate Jun 2, 2025

SB 1877: EDGE WITHHOLDING-STEEL

Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that certain taxpayers that are primarily engaged in the recycling and melting of steel products and in the manufacturing of new steel wire and rod products may elect to claim the credit under the Act against their withholding tax liability instead of their income tax liability. Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit option allowing steel industry to reduce withholding tax liability, a form of targeted tax relief aligning with fiscal responsibility indicators.90% confidence

Sub-Topics Income Tax Tax Credits Tax Incentives

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in committee · Illinois · Senate Jun 2, 2025

SB 252: INC TX-R AND D CREDIT

SB 252 amends the Illinois Income Tax Act to make the state's research and development tax credit permanent. This bill removes any expiration date for the credit, ensuring its continuous availability. It directly affects businesses in Illinois that conduct research and development activities and claim this specific income tax credit.

Topics ✓ Budget & TaxesSupports Budget & TaxesMakes R&D tax credit permanent, providing ongoing tax relief for businesses engaged in research and development activities.90% confidence ✓ TechnologySupports TechnologyPermanently funds R&D tax credit, directly supporting tech innovation and business R&D activities through tax incentives.90% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Illinois · House Mar 27, 2026

HB 4080: INC TX-CREDIT-SECURITY-JUDGES

Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2026, a taxpayer who is an eligible member of the judiciary is allowed an income tax credit in an amount equal to the qualified security expenses incurred by the taxpayer during the taxable year. Specifies that the credit may not be carried back and may not reduce the taxpayer's liability to less than zero. Provides that, if the amount of the credit exceeds the taxpayer's tax liability for the taxable year, then the excess may be carried forward and applied to the tax liability of the 5 taxable years following the excess credit year. Requires the tax credit to be applied to the earliest year for which there is a tax liability. Provides that, if there are credits for more than one year that are available to offset a liability, the earlier credit shall be applied first. Defines the terms "eligible member of the judiciary", "federal judge", and "qualified security expense". Effective immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides targeted tax credit for judiciary security expenses, reducing taxable income for eligible members. This constitutes tax relief within Budget & Taxes policy area.95% confidence

Sub-Topics Income Tax Tax Credits

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