Bill > SB4007

This bill amends the Illinois Income Tax Act to provide a new tax credit for beekeepers, effective for taxable years beginning on or after January 1, 2027. Individuals or entities engaged in beekeeping on "qualified beekeeping property" – defined as property in Illinois between 5 and 20 acres with 6 to 12 active beehives – can claim an income tax credit. This credit is equal to the lesser of 100% of the liability insurance premiums paid for that beekeeping property or $1,000. This provision is being added to an existing section of the law that already offers a similar tax credit for "agritourism operations," which are defined as businesses that allow the public to view or enjoy agricultural activities for recreational, entertainment, or educational purposes. The new beekeeping credit, like the existing agritourism credit, cannot reduce a taxpayer's liability below zero and any excess credit can be carried forward for up to five years.

Budget and Finance

https://www.ilga.gov/Legislation/BillStatus?DocNum=4007&GAID=18&DocTypeID=SB&SessionID=114&GA=104