IL SB3027

Establishes a $500 tax credit for volunteer firefighters and volunteer emergency medical services (EMS) providers for taxable years beginning January 1, 2023 and later.

Requires applicants to serve as volunteer emergency workers for at least 9 months during the taxable year and receive no more than $10,000 in compensation for volunteer services.

Defines "volunteer emergency worker" as non-career firefighters or volunteers licensed as EMRs, EMTs, A-EMTs, Paramedics, or ambulance drivers/attendants who do not work full-time in those capacities elsewhere.

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

Takes effect upon becoming law and exempts this provision from Section 250 of the Illinois Income Tax Act.