summary
Introduced
01/13/2026
01/13/2026
In Committee
02/03/2026
02/03/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Illinois Income Tax Act. Creates a deduction in an amount equal to the amount paid by the taxpayer during the taxable year as monthly premiums for a health insurance plan bought through the Affordable Care Act (ACA) Marketplace, plus an amount equal to the qualified out-of-pocket medical expenses paid by the taxpayer during the taxable year.
AI Summary
This bill amends the Illinois Income Tax Act to create a new deduction for individuals, allowing them to subtract from their taxable income the total amount they paid in monthly premiums for health insurance purchased through the Affordable Care Act (ACA) Marketplace, plus any qualified out-of-pocket medical expenses they paid during the tax year. The ACA, or Affordable Care Act, is a federal law that aims to increase the number of Americans with health insurance. This deduction is intended to provide financial relief to individuals who purchase health insurance through the marketplace and incur medical costs.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Assigned to Revenue (on 02/03/2026)
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