INC TX-WELCOME HOME CREDIT Senate SponsorsSen. Erica Harriss, John F. Curran, Sally J. Turner, Chris Balkema, Craig Wilcox, Donald P. DeWitte, Darby A. Hills, Jil Tracy, Jason Plummer and Seth Lewis 2/24/2026SenateAssigned to Revenue 35 ILCS 5/246 newAmends 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. 2/6/2026SenateFiled with Secretary by Sen. Erica Harriss 2/6/2026SenateFirst Reading 2/6/2026SenateReferred to Assignments 2/24/2026SenateAssigned to Revenue 3/3/2026SenateAdded as Co-Sponsor Sen. John F. Curran 3/4/2026SenateAdded as Co-Sponsor Sen. Sally J. Turner 3/4/2026SenateAdded as Co-Sponsor Sen. Chris Balkema 3/5/2026SenateAdded as Co-Sponsor Sen. Craig Wilcox 3/5/2026SenateAdded as Co-Sponsor Sen. Donald P. DeWitte 3/5/2026SenateAdded as Co-Sponsor Sen. Darby A. Hills 3/5/2026SenateAdded as Co-Sponsor Sen. Jil Tracy 3/6/2026SenateAdded as Co-Sponsor Sen. Jason Plummer 3/10/2026SenateAdded as Co-Sponsor Sen. Seth Lewis 3/13/2026SenateRule 2-10 Committee Deadline Established As April 24, 2026