state_legiscan_drain · IL
FARMER TAX BENEFIT ACT
April 28, 2026
Summary
If enacted, this bill would create income tax credits for Illinois landowners who donate conservation easements or land to the state. The credits are capped at $7.5 million annually per state fiscal year and $500,000 per donation. The bill does not directly affect mortgage lending or compliance.
AI-generated summary · Jun 8, 2026. Verify with your compliance counsel before acting.
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Source: https://www.ilga.gov/Legislation/BillStatus?DocNum=4193&GAID=18&DocTypeID=SB&SessionID=114&GA=104
Common questions
- What does "FARMER TAX BENEFIT ACT" cover?
- If enacted, this bill would create income tax credits for Illinois landowners who donate conservation easements or land to the state. The credits are…
- When was it published?
- It was published on April 28, 2026.