IllinoisHomeowners may deduct increases in insurance premiums from Illinois income
Illinois homeowners who keep the same principal home for two full tax years may deduct any increase in its insurance premiums from state income.
What it does
A taxpayer may deduct the increase in homeowner’s insurance premiums for their principal home, if they lived there throughout both the current and preceding tax years. Only one taxpayer may claim it for a home.
Argument forA homeowner whose premiums rise may be able to deduct the increase from Illinois income, if they keep the same home throughout both years.
Argument againstHomeowners who move during either year may not qualify, even if their insurance premiums rose, because the deduction requires the same home throughout both years.
More detail
A taxpayer may deduct the increase in homeowner’s insurance premiums for their principal residence. The deduction is for the difference between premiums paid for the taxpayer’s principal residence in the current calendar year and the immediately preceding calendar year. The taxpayer must have had the same principal residence for all of the current and preceding taxable years. If multiple taxpayers are responsible for insurance on one home, only one may claim the deduction. The provision applies to tax years beginning on or after January 1, 2026. The bill would take effect upon becoming law.
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Sep 21Added as Co-Sponsor Sen. Donald P. DeWitteLatest
- Sep 2Added as Co-Sponsor Sen. Paul Jacobs
- Jul 13Added as Co-Sponsor Sen. Erica Harriss
- Jul 9Added as Co-Sponsor Sen. Dave Syverson
- Jul 6Added as Co-Sponsor Sen. Sue Rezin
- May 22Rule 3-9(a) / Re-referred to Assignments
- May 15Rule 2-10 Committee/3rd Reading Deadline Established As May 22, 2026
- Apr 24Rule 2-10 Committee/3rd Reading Deadline Established As May 15, 2026
- Mar 13Rule 2-10 Committee Deadline Established As April 24, 2026
- Mar 10Added as Co-Sponsor Sen. Seth Lewis
- Mar 9Added as Co-Sponsor Sen. Chris Balkema
- Mar 5Added as Co-Sponsor Sen. Jil Tracy
- Mar 5Added as Co-Sponsor Sen. Darby A. Hills
- Mar 5Added as Co-Sponsor Sen. Craig Wilcox
- Feb 24Assigned to RevenueMinor
- Feb 6Referred to Assignments
- Feb 6First ReadingMinor
- Feb 6Filed with Secretary by Sen. John F. CurranIntroduced
Taxes & BudgetHousingGovernment & Ethics