<?xml version='1.0' encoding='UTF-8'?>
<xml>
<title>Illinois General Assembly - Bill Status for HB 5506</title>
<shortdesc>INC TX-BEGINNING FARMER</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Sonya M. Harper</sponsors>
</sponsor>
<lastaction>
<statusdate>2/13/2026</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/246 new</reference><aliasreference></aliasreference><SynopsisText>     Amends the Illinois Income Tax Act. Creates an income tax credit for an owner of an agricultural asset that sells or rents that agricultural asset to a beginning farmer. Sets forth the amount of the credit. Creates an income tax credit for a beginning farmer who participates in a financial management program approved by the Department of Agriculture. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>2/6/2026</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Sonya M. Harper</action>
<statusdate>2/13/2026</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/13/2026</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
</actions>
</xml>
