IL HB5279

Extends the tax credit for agritourism liability insurance from tax years ending on or before December 31, 2023 to tax years ending on or before December 31, 2028.

Allows individuals and entities operating agritourism operations in Illinois to claim a tax credit equal to 100% of liability insurance premiums paid during the taxable year, with a maximum credit of $1,000 per taxpayer.

Requires taxpayers to apply to the Department of Agriculture for a certificate of credit before claiming the credit on their Illinois income tax return.

Limits total credits awarded by the Department of Agriculture to $1,000,000 in any calendar year.

Permits unused credits to be carried forward and applied to tax liability for up to 5 taxable years following the year in which the excess credit was generated.