IL HB2604

Creates a new Illinois income tax deduction for out-of-pocket long-term care expenses incurred by taxpayers for themselves or family members, effective for taxable years beginning on or after January 1, 2025

Defines "family member" to include the taxpayer's spouse, as well as children, siblings, parents, grandparents, or grandchildren of either the taxpayer or the taxpayer's spouse

Allows the full amount of qualifying long-term care expenses to be deducted from base income with no cap specified in the bill

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

Amends Section 203 of the Illinois Income Tax Act (35 ILCS 5/203) and takes effect immediately upon becoming law