IL SB0214

Removes the $5,000,000 annual cap on the total amount of tax credits that can be awarded to volunteer emergency workers under the Illinois Income Tax Act

Eliminates the first-come, first-served allocation system for distributing the volunteer emergency worker tax credits

Maintains the existing $500 tax credit for eligible volunteer emergency workers who serve at least 9 months per year and receive no more than $5,000 in compensation

The credit applies to taxable years from January 1, 2023 through January 1, 2028, covering volunteer firefighters and emergency management agency volunteers

Takes effect immediately upon becoming law