HB3906 Summary

• Creates a new income tax deduction for taxpayers selling Illinois agricultural products certified under the Illinois Department of Agriculture's "Illinois Product" label program.

• Deduction applies to taxable years ending December 31, 2015 through December 31, 2019.

• Deduction amount equals 5% of the first $1,000,000 in retail sales of certified Illinois agricultural products during the taxable year.

• Applies to all taxpayer types: individuals, corporations, trusts, estates, and partnerships through modifications to Section 203 of the Illinois Income Tax Act.