SB3848 - 104th General Assembly (2025-2026)

INC TX-INSURANCE DEDUCTION
Last Action
2/06/2026 - Senate: Referred to Assignments
Senate Sponsors
Sen. John F. Curran
Statutes Amended In Order of Appearance
35 ILCS 5/203  from Ch. 120, par. 2-203
Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax deduction in an amount equal to the difference between (i) the homeowner's insurance premiums paid on the taxpayer's principal residence during the calendar year that begins during the taxable year for which the deduction is claimed and (ii) the homeowner's insurance premiums paid on the taxpayer's principal residence during the immediately preceding calendar year. Provides that the deduction applies only if the taxpayer has the same principal residence for the entirety of the current taxable year and the immediately preceding taxable year. Provides that, if 2 or more taxpayers are liable for the payment of homeowner's insurance on the same residence during a taxable year, only one such taxpayer may claim a deduction for that single property. Effective immediately.
Actions
DateChamberAction
2/06/2026SenateFiled with Secretary by Sen. John F. Curran
2/06/2026SenateFirst Reading
2/06/2026SenateReferred to Assignments