Illinois SB 3959: ENERGY-VARIOUS

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB3959

Introduced 2/6/2026, by Sen. Erica Harriss 

SYNOPSIS AS INTRODUCED:

35 ILCS 5/246 new

 Amends the Illinois Income Tax Act. Creates the Welcome Home Illinois tax credit. Provides that each taxpayer who is a first-time homebuyer of a principal residence in the State during the taxable year is entitled to an income tax credit in an amount equal to $500. Effective immediately.

LRB104 18268 HLH 31707 b

A BILL FOR

SB3959LRB104 18268 HLH 31707 b

1 AN ACT concerning revenue.

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 Section 246 as follows:

6 (35 ILCS 5/246 new)

7 Sec. 246. Welcome Home Illinois tax credit.

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

92027, each taxpayer who is a first-time homebuyer of a 

10principal residence in the State during the taxable year is 

11entitled to a credit against the tax imposed by subsections 

12(a) and (b) of Section 201 in an amount equal to $500. If 2 or 

13more individuals who are not married purchase a principal 

14residence, the amount of the credit allowed under this Section 

15shall be allocated among those individuals in such manner as 

16the Department may, by rule, prescribe. This Section does not 

17apply if the taxpayer disposes of the residence before the 

18close of the taxable year or if the residence ceases to be the 

19principal residence of the taxpayer before the close of the 

20taxable year. 

21 (b) In no event shall a credit under this Section reduce 

22the taxpayer's liability to less than zero. If the amount of 

23the credit exceeds the tax liability for the ye