Illinois HB 4849: INC TAX-LAND PROTECTION

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB4849

Introduced , by Rep. Will Guzzardi 

SYNOPSIS AS INTRODUCED:

New Act

35 ILCS 5/253 new

 Creates the Farmer Tax Benefit Act. Provides that taxpayers may apply to the Department of Natural Resources for an income tax credit in an amount equal to either (i) 100% of the fair market value of a qualified donation to a conservation agency of a land protection agreement or (ii) 50% of the fair market value of the qualified donation to a conservation agency of a fee simple interest or a remainder interest in qualified real property. Amends the Illinois Income Tax Act to make conforming changes.

LRB104 17527 HLH 30954 b

A BILL FOR

HB4849LRB104 17527 HLH 30954 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 1. Short title. This Act may be cited as the Farmer 

5Tax Benefit Act.

6 Section 5. Purpose and findings. The General Assembly 

7finds that:

8 (1) The State of Illinois' unique natural resources, 

9 wildlife habitats, open spaces, agricultural and forested 

10 resources, wetlands, and historical, cultural, and 

11 archaeological resources are of significant economic, 

12 environmental, and social benefit to the State and the 

13 public.

14 (2) The Illinois economy is vulnerable to other states 

15 that have financial incentive programs targeted to support 

16 the protection of unique natural and agricultural 

17 resources. Illinois should advance new tools to ensure 

18 that Illinois offers a competitive quality of life and is 

19 desirable in site location decision-making for businesses.

20 (3) Natural carbon storage and increasing carbon 

21 sequestration from n