IL SB1868

Creates a $500 annual income tax credit for individuals who serve as volunteer firefighters or volunteer EMS providers during the taxable year, applicable to tax years beginning on or after January 1, 2022.

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 unused credits exceeding tax liability to be carried forward and applied to tax liability for the 5 following taxable years, with earlier credits applied first.

Exempts this credit from the provisions of Section 250 of the Illinois Income Tax Act.