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IL HB4923
Bill
Status
Introduced
2/3/2026
Primary Sponsor
Sonya Harper
Click for details
AI Summary
- Defines "distressed farmer" as someone farming fewer than 75 acres with under $500,000 annual gross revenue, or a farmer denied a Farm Service Agency number despite 5+ years of farming experience
- Creates a 100% tax credit for qualified farming expenses up to $50,000 per year for distressed farmers, effective January 1, 2026, with unused credits carrying forward for 5 years
- Directs the Department of Agriculture to administer up to $20 million in total funding: $5 million for year-long paid apprenticeships, $5 million for wells, and $10 million for equipment repairs and purchases
- Qualified expenses include repairing tractors and vehicles, purchasing/constructing greenhouses, buying tractors with attachments, and planting/harvesting food for delivery to underserved communities
- Defines "underserved community" as census tracts where 20%+ of households are at or below poverty level or median income is at/below 80% of area median, and 33%+ of residents live more than 1 mile (urban) or 10 miles (rural) from a grocery store
Legislative Description
DISTRESSED FARMERS ACT
Last Action
Assigned to Revenue & Finance Committee
3/12/2026
Committee Referrals
Revenue & Finance3/12/2026
Rules2/6/2026
Full Bill Text
No bill text available