IL HB1897

Creates a $500 tax credit for individuals who serve as volunteer firefighters or volunteer EMS providers during the taxable year, applicable to tax years beginning January 1, 2021 or later.

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 immediately upon becoming law.