IllinoisHB3457104th General Assembly (2025–2026)House

LAND CONSERVATION INCENTIVES

Sponsored By: Will Guzzardi (Democratic)

In Committee

Summary

Provides that the amendatory Act may be referred to as the Land Conservation Incentives Act. Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2025, there is a tax credit of up to $200,000 with respect to qualified real property interest conveyed for conservation and preservation purposes as the qualified donation by the taxpayer, with certain requirements. Provides that any taxpayer claiming this tax credit may not claim a credit under any similar law for costs related to the same project. Provides that any tax credits from the donation of an interest in land made by a pass-through tax entity such as a trust, estate, partnership, limited liability corporation or partnership, limited partnership, S corporation, or other fiduciary shall be used either by such entity if it is the taxpayer on behalf of such entity or by the member, manager, partner, shareholder, or beneficiary, as the case may be, in proportion to their interest in such entity if the income, deductions, and tax liability passes through such entity to such member, manager, partner, shareholder, or beneficiary, and that such tax credits may not be claimed by both the entity and the member, manager, partner, shareholder, or beneficiary for the same donation. Requires the Department of Natural Resources and Department of Revenue to adopt rules. Defines terms. Makes findings.

revenue & finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Will Guzzardi

    Democratic • House

Cosponsors

  • Hoan Huynh

    Democratic • House

  • Laura Faver Dias

    Democratic • House

  • Maura Hirschauer

    Democratic • House

  • Michelle Mussman

    Democratic • House

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added Co-Sponsor Rep. Hoan Huynh

    4/7/2025House
  2. Rule 19(a) / Re-referred to Rules Committee

    3/21/2025House
  3. To Tax Policy: Other Taxes Subcommittee

    3/13/2025House
  4. Added Co-Sponsor Rep. Maura Hirschauer

    3/12/2025House
  5. Assigned to Revenue & Finance Committee

    3/11/2025House
  6. Added Co-Sponsor Rep. Laura Faver Dias

    3/6/2025House
  7. Added Co-Sponsor Rep. Michelle Mussman

    2/19/2025House
  8. Referred to Rules Committee

    2/18/2025House
  9. First Reading

    2/18/2025House
  10. Filed with the Clerk by Rep. Will Guzzardi

    2/7/2025House

Bill Text

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