Illinois HB5504 allocates $6,000,000 for asset owner tax credits from the Department of Agriculture.
HB5504 appropriates $6,000,000 from the General Revenue Fund to the Illinois Department of Agriculture for asset owner tax credits. This funding aims to support beginning farmers by providing tax credits. The bill becomes effective July 1, 2026.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.