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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.
Introduced
Feb 6, 2026
Last Action
Mar 13, 2026
Session
IL 104th
Sponsors
1 primary · 9 co
Rule 2-10 Committee Deadline Established As April 24, 2026
Added as Co-Sponsor Sen. Seth Lewis
Added as Co-Sponsor Sen. Jason Plummer
Added as Co-Sponsor Sen. Craig Wilcox
Added as Co-Sponsor Sen. Donald P. DeWitte
Added as Co-Sponsor Sen. Darby A. Hills
Added as Co-Sponsor Sen. Jil Tracy
Added as Co-Sponsor Sen. Sally J. Turner
Added as Co-Sponsor Sen. Chris Balkema
Added as Co-Sponsor Sen. John F. Curran
Assigned to Revenue
First Reading
Referred to Assignments
Filed with Secretary by Sen. Erica Harriss
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Rule 2-10 Committee Deadline Established As April 24, 2026
Sally J. Turner
Donald P. DeWitte
Darby A. Hills
John F. Curran