IL HB5080

Creates the Illinois Farmers Who Fight Food Insecurity Act, establishing an income tax credit for farm property owners who make qualified donations to food banks or historically underserved farmers and ranchers.

Eligible taxpayers can claim a credit equal to the value of their qualified donation, capped at $2,500 per taxpayer per taxable year, for tax years beginning January 1, 2025 or later.

Qualified donations include agricultural or horticultural commodities suitable for human consumption produced on the taxpayer's farm property, cash donations, or combinations thereof.

Taxpayers must apply to the Department of Human Services for a tax credit certificate certifying the donation value, which must be attached to the Illinois income tax return.

Excess credits that exceed tax liability can be carried forward and applied to the next 5 taxable years, applied first to the earliest year with available tax liability.