IL HB0696

Amends the Illinois Income Tax Act to create a new income tax deduction for taxable years beginning on or after January 1, 2021.

Allows taxpayers to deduct the full amount of out-of-pocket costs incurred during the taxable year for expenses associated with long-term care for the taxpayer or qualifying family members.

Defines "family member" to include the taxpayer's spouse, or any child, sibling, parent, grandparent, or grandchild of the taxpayer or taxpayer's spouse.

The deduction is exempt from the provisions of Section 250 of the Illinois Income Tax Act.

Effective immediately upon becoming law.