INDUSTRIAL HEMP ACT Senate SponsorsSen. Emil Jones, III 2/18/2026SenateTo Cannabis 30 ILCS 105/5.1038 new35 ILCS 5/203from Ch. 120, par. 2-20335 ILCS 143/10-5235 ILCS 5/6-29.2 new505 ILCS 89/3 new505 ILCS 89/5505 ILCS 89/5.1 new505 ILCS 89/5.2 new505 ILCS 89/5.3 new505 ILCS 89/5.4 new505 ILCS 89/5.5 new505 ILCS 89/5.6 new505 ILCS 89/5.7 new505 ILCS 89/5.8 new505 ILCS 89/5.9 new505 ILCS 89/5.10 new505 ILCS 89/5.11 new505 ILCS 89/5.12 new505 ILCS 89/5.13 new505 ILCS 89/7 new505 ILCS 89/8 new505 ILCS 89/8-5 new505 ILCS 89/10505 ILCS 89/11 new505 ILCS 89/15505 ILCS 89/16 new505 ILCS 89/17505 ILCS 89/18505 ILCS 89/18.5 new505 ILCS 89/18.10 new505 ILCS 89/19505 ILCS 89/20505 ILCS 89/21 new505 ILCS 89/22 new505 ILCS 89/22.5 new505 ILCS 89/22.10 new505 ILCS 89/22.15 new505 ILCS 89/23 new505 ILCS 89/23.10 new505 ILCS 89/23.15 new505 ILCS 89/23.20 new505 ILCS 89/23.25 new505 ILCS 89/23.30 new505 ILCS 89/23.35 new505 ILCS 89/24 new505 ILCS 89/25505 ILCS 89/26 new505 ILCS 89/27 new505 ILCS 89/28 new505 ILCS 89/30 new505 ILCS 89/35 new505 ILCS 89/40 new505 ILCS 89/45 new505 ILCS 89/50 new505 ILCS 89/55 new505 ILCS 89/60 new505 ILCS 89/65 new505 ILCS 89/80 new505 ILCS 89/100 newAmends the Illinois Income Tax Act. Creates a corporate income tax deduction for hemp business establishments in an amount equal to 50% of the income generated by the sale of products made by businesses owned by minority and other specific priority-population-owned businesses. Amends the Tobacco Products Tax Act of 1995 to exclude hemp-cannabinoid products subject to tax under the Industrial Hemp Act from the definition of tobacco products. Amends the Liquor Control Act of 1934 to provide that hemp extract and hemp-cannabinoid products made in compliance with State law are considered fit for human consumption. Authorizes liquor license holders to manufacture, distribute, and sell such products. Amends the Industrial Hemp Act to establish a comprehensive regulatory framework for hemp and hemp-derived cannabinoid products, including licensing, registration, packaging and labeling standards, age verification, laboratory testing, recordkeeping, enforcement, and penalties. Creates the Hemp Social Equity Fund to support loans, grants, and technical assistance for social equity applicants. Makes conforming changes to the State Finance Act. Effective January 1, 2027. 2/4/2026SenateFiled with Secretary by Sen. Emil Jones, III 2/4/2026SenateFirst Reading 2/4/2026SenateReferred to Assignments 2/17/2026SenateAssigned to Executive 2/18/2026SenateTo Cannabis 3/13/2026SenateRule 2-10 Committee Deadline Established As March 27, 2026 3/27/2026SenateRule 2-10 Committee Deadline Established As April 24, 2026