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<xml>
<title>Illinois General Assembly - Bill Status for HB 5388         </title>
<shortdesc>HIGHER ED-COLLEGE SAVINGS</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Norine K. Hammond-Grant Wehrli-Patrick Windhorst-Amy Grant, Terra Costa Howard and Mary Edly-Allen</sponsors>
</sponsor>
<lastaction>
<statusdate>1/13/2021</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>15 ILCS 505/16.5</reference><aliasreference></aliasreference><reference>110 ILCS 979/45.5 new</reference><aliasreference></aliasreference><SynopsisText>     Amends the State Treasurer Act and Illinois Prepaid Tuition Act. Provides that, beginning on July 1, 2020, for a designated beneficiary or qualified beneficiary who is a State resident, no contributions toward the College Savings Pool or the purchase of an Illinois prepaid tuition contract may be considered in evaluating the financial situation of the beneficiary or be deemed a financial resource or form of financial aid or assistance to the beneficiary for purposes of determining the eligibility of the beneficiary for any scholarship, grant, or monetary assistance awarded by the Illinois Student Assistance Commission. Provides that contributions toward the College Savings Pool or the purchase of an Illinois prepaid tuition contract may not reduce the amount of any scholarship, grant, or monetary assistance that the beneficiary is eligible to be awarded by the Commission. Effective June 1, 2020.</SynopsisText></synopsis>
<actions>
<statusdate>2/14/2020</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Norine K. Hammond</action>
<statusdate>2/14/2020</statusdate><chamber>House</chamber><action>Chief Co-Sponsor Rep. Grant Wehrli</action>
<statusdate>2/14/2020</statusdate><chamber>House</chamber><action>Chief Co-Sponsor Rep. Patrick Windhorst</action>
<statusdate>2/14/2020</statusdate><chamber>House</chamber><action>Chief Co-Sponsor Rep. Amy Grant</action>
<statusdate>2/18/2020</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/18/2020</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>3/12/2020</statusdate><chamber>House</chamber><action>Assigned to Higher Education Committee</action>
<statusdate>6/2/2020</statusdate><chamber>House</chamber><action>Added Co-Sponsor Rep. Terra Costa Howard</action>
<statusdate>6/2/2020</statusdate><chamber>House</chamber><action>Added Co-Sponsor Rep. Mary Edly-Allen</action>
<statusdate>6/23/2020</statusdate><chamber>House</chamber><action>Rule 19(b) / Re-referred to Rules Committee</action>
<statusdate>1/13/2021</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

