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IL SB3619
Bill
Status
Introduced
2/5/2026
Primary Sponsor
Chris Balkema
Click for details
AI Summary
- Creates an income tax credit for employers with fewer than 50 employees who contribute to health reimbursement arrangements (HRAs) instead of traditional employer-provided health insurance plans
- Credit amount is $400 per covered employee in the first taxable year and $200 per covered employee in the second taxable year
- Employers must maintain contribution levels equal to or greater than the previous benefit year to qualify for the credit
- Unused credits may be carried forward and applied to tax liability for up to 5 subsequent taxable years
- Applies to taxable years beginning on or after January 1, 2027, and takes effect immediately upon becoming law
Legislative Description
INC TX-HEALTH INSURANCE CREDIT
Last Action
Rule 2-10 Committee Deadline Established As April 24, 2026
3/13/2026
Committee Referrals
Revenue2/17/2026
Assignments2/5/2026
Full Bill Text
No bill text available