HB 4849
INC Tax-land protection
INC Tax-Land Protection
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
Creates the Farmer Tax Benefit Act. Provides that taxpayers may apply to the Department of Natural Resources for an income tax credit in an amount equal to either (i) 100% of the fair market value of a qualified donation to a conservation agency of a land protection agreement or (ii) 50% of the fair market value of the qualified donation to a conservation agency of a fee simple interest or a remainder interest in qualified real property. Amends the Illinois Income Tax Act to make conforming changes.
Sponsors
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Primary sponsor
Cosponsors
Amy Briel
Christopher "C.D." Davidsmeyer
Dagmara Avelar
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