Bill Status of HB 5650   98th General Assembly

Short Description:  STUDENT ASSISTANCE CREDITS

House Sponsors
Rep. Arthur Turner

Last Action  View All Actions

DateChamber Action
  12/3/2014HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/218

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that each taxpayer who makes a contribution to a specified individual College Savings Pool Account or to the Illinois Prepaid Tuition Trust Fund in an amount matching a contribution made in the same taxable year by an employee of the taxpayer to that Account or Fund is entitled to a credit in an amount equal to 25% of that matching contribution, but not to exceed $800 (rather than $500) per contributing employee per taxable year. Effective immediately.

Actions 
DateChamber Action
  2/13/2014HouseFiled with the Clerk by Rep. Arthur Turner
  2/14/2014HouseFirst Reading
  2/14/2014HouseReferred to Rules Committee
  12/3/2014HouseSession Sine Die

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