HB5506 - 104th General Assembly (2025-2026)

INC TX-BEGINNING FARMER
Last Action
2/13/2026 - House: Referred to Rules Committee
House Sponsors
Rep. Sonya M. Harper
Statutes Amended In Order of Appearance
35 ILCS 5/246 new  
Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit for an owner of an agricultural asset that sells or rents that agricultural asset to a beginning farmer. Sets forth the amount of the credit. Creates an income tax credit for a beginning farmer who participates in a financial management program approved by the Department of Agriculture. Effective immediately.
Actions
DateChamberAction
2/06/2026HouseFiled with the Clerk by Rep. Sonya M. Harper
2/13/2026HouseFirst Reading
2/13/2026HouseReferred to Rules Committee