SB1812 Summary

• Amends the Illinois Income Tax Act to create a new income tax deduction for out-of-pocket long-term care expenses incurred by taxpayers or their family members, effective for taxable years beginning January 1, 2021 and forward.

• Defines "family member" as the taxpayer's spouse or the child, sibling, parent, grandparent, or grandchild of the taxpayer or the taxpayer's spouse.

• Allows taxpayers to deduct the full amount of qualifying long-term care costs directly, exempt from the Section 250 tax limitation provisions.

• Effective immediately upon becoming law.