Dependent Income Exclusion Act of 2024

This bill modifies the Affordable Care Act's premium tax credit rules to exclude certain income earned by qualifying dependents when calculating household income for health insurance subsidies. It specifically excludes wages or self-employment income from dependents under age 18, or under 24 enrolled in approved job-training programs or educational institutions. The exclusion cannot exceed 15% of the taxpayer's modified adjusted gross income, and special rules apply for residents of states that did not expand Medicaid. This directly affects low-to-moderate income families with young working dependents who might otherwise have higher household income counts. The change applies to tax years beginning after the bill's enactment date.