Bill > HB4680

This bill amends the Illinois Income Tax Act to increase the state's earned income tax credit, which is a tax credit for low-to-moderate income working individuals and families. Specifically, for tax years starting on or after January 1, 2026, the Illinois earned income tax credit will be equal to 30% of the federal earned income tax credit, a significant increase from the current 20% for tax years beginning on or after January 1, 2023, and before January 1, 2026. The bill also clarifies that this change is effective immediately upon becoming law.