Illinois 94th Regular Session Status: In Committee

HB 24 — HEALTH SAVINGS ACCOUNTS

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 94th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Creates the Health Savings Account Act and amends the Illinois Income Tax Act. Provides that, beginning in taxable year 2005, a resident of Illinois or an employer may deposit contributions, subject to certain limitations, into a health savings account. Provides that the principal contributed to and the interest earned on a health savings account and money reimbursed to an eligible individual or an employee for qualified medical expenses is exempt from the Illinois income tax. Sets forth restriction on the use of funds held in a health savings account. Provides that an eligible individual may withdraw money from his or her health savings account for any purpose, but provides that certain withdrawals are not tax exempt. Repeals the Health Savings Account Act on June 30, 2015. Effective July 1, 2005.

Bill Text

How this bill changes current law

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AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill creates the Health Savings Account Act that establishes tax exemptions for health savings accounts in Illinois.

  • 35 ILCS 5/203

    (c) Except as provided in Section 20, the principal contributed to and the interest earned on a health savings account and money reimbursed to an eligible individual or an employee for qualified medical expenses is exempt from taxation under the Illinois Income Tax Act.

    This adds a tax exemption for contributions and earnings in health savings accounts.

Action History

  1. Session Sine Die

  2. Rule 19(a) / Re-referred to Rules Committee

  3. Added Co-Sponsor Rep. Robert F. Flider

  4. Remains in Revenue Committee

  5. Recommends Be Adopted Sub-committee/ Revenue Committee; 001-000-002; Lost

  6. Added Co-Sponsor Rep. Linda Chapa LaVia

  7. Added Co-Sponsor Rep. Jack D. Franks

  8. Added Co-Sponsor Rep. Patricia Reid Lindner

  9. Added Chief Co-Sponsor Rep. Eileen Lyons

  10. Added Chief Co-Sponsor Rep. Sandra M. Pihos

  11. Added Chief Co-Sponsor Rep. John A. Fritchey

  12. Assigned to Revenue Committee

  13. Added Chief Co-Sponsor Rep. Sidney H. Mathias

  14. Referred to Rules Committee

  15. First Reading

  16. Prefiled with Clerk by Rep. Patricia R. Bellock

Sponsors

  • Patricia R. Bellock · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • Patricia R. Bellock

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation healthcare health-insurance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB 24 do?
Creates the Health Savings Account Act and amends the Illinois Income Tax Act. Provides that, beginning in taxable year 2005, a resident of Illinois or an employer may deposit contributions, subject to certain limitations, into a health savings account. Provides that the principal contributed to and the interest earned on a health savings account and money reimbursed to an eligible individual or an employee for qualified medical expenses is exempt from the Illinois income tax. Sets forth restriction on the use of funds held in a health savings account. Provides that an eligible individual may withdraw money from his or her health savings account for any purpose, but provides that certain withdrawals are not tax exempt. Repeals the Health Savings Account Act on June 30, 2015. Effective July 1, 2005.
Who sponsors HB 24?
HB 24 is sponsored by Patricia R. Bellock.
What is the current status of HB 24?
This bill died with 94th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 24?
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Last checked for changes 3 months ago · updated continuously

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