IllinoisSB4193104th General Assembly (2025–2026)Senate

FARMER TAX BENEFIT ACT

Sponsored By: Robert F. Martwick

In Committee

Summary

Creates the Farmer Tax Benefit Act. Provides that, for taxable years ending on or after December 31, 2027, landowners may apply to the Department for an income tax credit in an amount equal to either (i) 100% of the fair market value of a qualified donation of a land protection agreement or (ii) 50% of the fair market value of the qualified donation of a fee simple interest or a remainder interest in qualified real property. Specifies that the total aggregate amount of tax credits issued under the Act in any State fiscal year shall not exceed $7,500,000. Further provides that the amount of the credit that may be claimed by a landowner for any single qualified donation shall not exceed $500,000. Contains additional provisions concerning allocation of the credit by the Department of Natural Resources and other powers of the Department of Natural Resources, allowable credit use, the Illinois Land Protection Tax Credit, legislative findings, and other related matters. Amends the Illinois Income Tax Act. Makes conforming changes. Effective immediately.

assignments

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Robert F. Martwick

    Affiliation unavailable

Cosponsors

  • Chapin Rose

    Affiliation unavailable

  • Chris Balkema

    Affiliation unavailable

  • Darby A. Hills

    Affiliation unavailable

  • Dave Syverson

    Affiliation unavailable

  • David Koehler

    Affiliation unavailable

  • Erica Harriss

    Affiliation unavailable

  • Jil Tracy

    Affiliation unavailable

  • Julie A. Morrison

    Affiliation unavailable

  • Laura Ellman

    Affiliation unavailable

  • Laura M. Murphy

    Affiliation unavailable

  • Linda Holmes

    Affiliation unavailable

  • Mark L. Walker

    Affiliation unavailable

  • Mary Edly-Allen

    Affiliation unavailable

  • Mattie Hunter

    Affiliation unavailable

  • Mike Porfirio

    Affiliation unavailable

  • Paul Faraci

    Affiliation unavailable

  • Rachel Ventura

    Affiliation unavailable

  • Sally J. Turner

    Affiliation unavailable

  • Suzy Glowiak Hilton

    Affiliation unavailable

  • Terri Bryant

    Affiliation unavailable

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added as Co-Sponsor Sen. Dave Syverson

    5/28/2026Senate
  2. Added as Co-Sponsor Sen. Laura Ellman

    5/26/2026Senate
  3. Added as Co-Sponsor Sen. Mary Edly-Allen

    5/25/2026Senate
  4. Added as Co-Sponsor Sen. Rachel Ventura

    5/20/2026Senate
  5. Added as Co-Sponsor Sen. Jil Tracy

    5/20/2026Senate
  6. Added as Co-Sponsor Sen. Julie A. Morrison

    5/20/2026Senate
  7. Added as Co-Sponsor Sen. Erica Harriss

    5/20/2026Senate
  8. Added as Co-Sponsor Sen. Suzy Glowiak Hilton

    5/19/2026Senate
  9. Added as Co-Sponsor Sen. Mike Porfirio

    5/14/2026Senate
  10. Added as Co-Sponsor Sen. Chris Balkema

    5/13/2026Senate
  11. Added as Co-Sponsor Sen. Laura M. Murphy

    5/7/2026Senate
  12. Added as Co-Sponsor Sen. Terri Bryant

    5/6/2026Senate
  13. Added as Chief Co-Sponsor Sen. Mark L. Walker

    5/6/2026Senate
  14. Added as Chief Co-Sponsor Sen. Mattie Hunter

    5/6/2026Senate
  15. Added as Chief Co-Sponsor Sen. David Koehler

    5/6/2026Senate
  16. Added as Chief Co-Sponsor Sen. Linda Holmes

    5/6/2026Senate
  17. Added as Co-Sponsor Sen. Darby A. Hills

    5/1/2026Senate
  18. Added as Co-Sponsor Sen. Paul Faraci

    4/30/2026Senate
  19. Added as Co-Sponsor Sen. Sally J. Turner

    4/29/2026Senate
  20. Added as Co-Sponsor Sen. Chapin Rose

    4/29/2026Senate
  21. Referred to Assignments

    4/28/2026Senate
  22. First Reading

    4/28/2026Senate
  23. Filed with Secretary by Sen. Robert F. Martwick

    4/28/2026Senate

Bill Text

Related Bills

Back to State Legislation