Illinois HB1634 creates a tax credit for first responders who incur unreimbursed wellness expenses.
HB1634 amends the Illinois Income Tax Act to establish a tax credit for first responders who serve for at least 10 months in a taxable year and incur unreimbursed wellness expenses. The credit equals 50% of the expenses, up to $250 per taxpayer per year, with an annual cap of $2.5 million. Eligible expenses include fitness center memberships, wellness classes, and martial arts fees. The credit can be carried forward if it exceeds the tax liability. The Department of Revenue will implement the credit through regulations.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.