Illinois SB 3786: REVENUE-SUBSTANCE ABUSE

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB3786

Introduced 2/5/2026, by Sen. Seth Lewis 

SYNOPSIS AS INTRODUCED:

35 ILCS 5/246 new

35 ILCS 5/247 new

35 ILCS 5/248 new

 Amends Illinois Income Tax Act. Creates a legacy tax credit for businesses that are headquartered in the State. Creates an employee tax credit and a collective bargaining employee tax credit. Effective immediately.

LRB104 19218 HLH 32663 b

A BILL FOR

SB3786LRB104 19218 HLH 32663 b

1 AN ACT concerning State government.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Income Tax Act is amended by 

5adding Sections 246, 247, and 248 as follows:

6 (35 ILCS 5/246 new)

7 Sec. 246. Legacy credit.

8 (a) For taxable years beginning on or after January 1, 

92026, any sole proprietorship, limited liability company, or 

10corporation that is headquartered in the State is entitled to 

11a credit against the taxes imposed by subsections (a) and (b) 

12of Section 201 in an amount equal to $100 multiplied by the 

13number of years during which the taxpayer has been 

14headquartered in Illinois as of the last day of the taxable 

15year.

16 (b) If the taxpayer is a Subchapter S corporation, the 

17credit shall be allowed to shareholders in accordance with the 

18determination of income and distributive shares of income 

19under Subchapter S of Chapter 1 of the Internal Revenue Code. 

20 (c) In no event shall a credit under this Section reduce 

21the taxpayer's liability to less than zero. If the amount of 

22the credit exceeds the tax liability for the year, the excess 

23may be carried forward and applied to the tax liability of the 

SB3786- 2 -LRB104 19218 HLH 3266