summary
Introduced
01/16/2026
01/16/2026
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. Creates an income tax credit for individuals who (i) serve as a volunteer for 100 hours during the taxable year, (ii) do not receive any compensation for their services as a volunteer for the taxable year, and (iii) do not serve on a full-time or part-time career basis for the entity for which they volunteer. Provides that the Department of Revenue may award not more than $5,000,000 in credits under these provisions in any calendar year. Effective immediately.
AI Summary
This bill creates a new income tax credit for individuals in Illinois who volunteer at least 100 hours in a taxable year for a qualified charitable, religious, or educational organization, provided they receive no compensation for their service and are not employed by the organization on a career basis. The credit is worth $500 per eligible individual, but the total amount of credits awarded by the Department of Revenue cannot exceed $5 million annually, and credits are distributed on a first-come, first-served basis, with the ability to reduce tax liability to zero but not below. Organizations seeking to notify the Department of eligible volunteers must have an active Exemption Identification Number, and the Department is authorized to adopt emergency rules for swift implementation of this program, which is set to be in effect for taxable years beginning between January 1, 2026, and January 1, 2031.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Assigned to Revenue (on 02/03/2026)
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