INC TX-YOUNG FARMERS House SponsorsRep. Charles E. Meier 12/3/2014HouseSession Sine Die 35 ILCS 5/224 new Amends the Illinois Income Tax Act. Provides that each taxpayer who qualifies as a young farmer is allowed a credit of $1,000 for the taxable year in which the taxpayer first purchases real property that will be used for agricultural production. Provides that the term "young farmer" means an individual who is 35 years of age or younger and who derives a minimum of 50% of his or her income from farming. Effective immediately. 2/14/2014HouseFiled with the Clerk by Rep. Charles E. Meier 2/14/2014HouseFirst Reading 2/14/2014HouseReferred to Rules Committee 12/3/2014HouseSession Sine Die