SB3619

Illinois SB3619 introduces a tax credit for employers with fewer than 50 employees who adopt health reimbursement arrangements.

Illinois SB3619 amends the Illinois Income Tax Act to create a tax credit for qualified employers who contribute to health reimbursement arrangements for their employees. This credit is available for employers with fewer than 50 employees who have adopted such arrangements instead of traditional employer-provided health insurance plans. The credit amounts to $400 per covered employee in the first taxable year and $200 per covered employee in the second taxable year.