IL SB3224

Amends the Illinois Income Tax Act to create a $500 tax credit for individuals who serve as volunteer firefighters or volunteer EMS providers during the taxable year, effective for tax years beginning on or after January 1, 2021.

Defines "volunteer firefighter" as a firefighter who receives no monetary compensation for services to a municipality, county, or fire protection district.

Defines "volunteer EMS provider" by reference to Section 1-220 of the Illinois Vehicle Code.

Allows excess credits that exceed tax liability to be carried forward and applied to tax liability for up to 5 following taxable years, with earlier credits applied first.

Takes effect upon becoming law.