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IL SB2856
Bill
Status
Introduced
1/16/2026
Primary Sponsor
Paul Faraci
Click for details
AI Summary
- Creates a $500 income tax credit for individuals who volunteer at least 100 hours per year for charitable, religious, or educational organizations without receiving compensation
- Limits total credits awarded statewide to $5,000,000 per calendar year, distributed on a first-come, first-served basis
- Applies to taxable years from January 1, 2026 through January 1, 2031
- Requires qualifying nonprofit organizations to report eligible volunteers to the Department of Revenue by January 24 each year
- Prohibits individuals who work full-time or part-time for the organization from claiming the volunteer credit for that entity
Legislative Description
INC TX-VOLUNTEERS
Last Action
Rule 2-10 Committee Deadline Established As April 24, 2026
3/13/2026
Committee Referrals
Revenue2/3/2026
Assignments1/16/2026
Full Bill Text
No bill text available