IL HB1218

Creates a new $1,500 income tax credit for each dependent claimed on a taxpayer's Illinois state income tax return, as defined under Section 152 of the Internal Revenue Code

Applies to taxable years beginning on or after January 1, 2026

The credit is non-refundable and may not reduce a taxpayer's liability below zero

Amends the Illinois Income Tax Act by adding new Section 235

The credit is exempt from the sunset provisions of Section 250, making it permanent