summary
Introduced
01/13/2026
01/13/2026
In Committee
02/03/2026
02/03/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Illinois Income Tax Act. Provides that each taxpayer that makes a donation to an educational improvement organization for aviation during the taxable year may apply to the Department of Commerce and Economic Opportunity for an income tax credit in an amount not to exceed the amount of the taxpayer's donation that is used to provide scholarships for prospective pilots, airline and aerospace mechanics, and other aviation and aerospace professionals as part of a program that operates in this State. Requires educational improvement organizations for aviation to apply to the Department of Commerce and Economic Opportunity to be eligible to accept donations that qualify for the credit. Provides that the Department of Commerce and Economic Opportunity may award no more than $5,000,000 in credits under the program in any calendar year. Effective immediately.
AI Summary
This bill, titled INC TX-AVIATION, amends the Illinois Income Tax Act to create a new tax credit for individuals and businesses that donate to approved educational improvement organizations focused on aviation. Starting in taxable years beginning on or after January 1, 2027, taxpayers can receive an income tax credit equal to the amount of their donation, provided that the funds are used for scholarships for aspiring pilots, mechanics, and other aviation professionals within programs operating in Illinois. To qualify, aviation educational organizations must apply to the Department of Commerce and Economic Opportunity (DCEO) and have their programs approved. The DCEO is authorized to award a maximum of $5,000,000 in these credits annually, and any credit amount exceeding a taxpayer's liability can be carried forward for up to ten years. The bill also mandates that the DCEO, in conjunction with the Department of Revenue, will establish rules to implement this program, which takes effect immediately upon becoming law.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Assigned to Revenue (on 02/03/2026)
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