Illinois House Bill 464 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Authorizes a credit to individual taxpayers who are residents of Illinois for expenditures made by the taxpayer during the taxable year for qualified college tuition expenses paid for the taxpayer or a dependent of the taxpayer, as determined under the Act, for up to 4 years of college education for each eligible student attending an institution of higher education. Provides that the amount of the credit is equal to 25% of the qualified college tuition expenses, but not to exceed $2,500 per student per taxable year. Provides that, if a taxpayer claims a credit for a dependent, then that dependent may not claim a credit on the dependent's return for that taxable year. Defines "qualified college tuition expenses" as the tuition required for the enrollment or attendance of an eligible student at an institution of higher education who is eligible to receive grants from the Monetary Award Program, except that tuition payments made through scholarships or other financial aid are excluded and tuition payments for post-baccalaureate or other graduate degrees are excluded. Provides that the credit may not reduce the taxpayer's liability to less than zero and may not be carried back or carried forward. Exempts the credit from the Act's sunset provisions. Effective immediately.

INC TAX-HIGHER EDUCATION

Rep. Mike Fortner [R]

Rep. Robert Pritchard [R]

Rep. Natalie Manley [D]

Date	Chamber	Action
2019-01-08	House	Session Sine Die
2017-03-31	House	Rule 19(a) / Re-referred to Rules Committee
2017-03-14	House	Added Co-Sponsor Rep. Natalie A. Manley
2017-02-24	House	To Growth, Reform & Fairness Subcommittee
2017-02-15	House	Added Co-Sponsor Rep. Robert W. Pritchard
2017-02-02	House	Assigned to Revenue & Finance Committee
2017-01-17	House	Referred to Rules Committee
2017-01-17	House	First Reading
2017-01-17	House	Filed with the Clerk by Rep. Mike Fortner

Chapter	Article	Section	Citation Type	Statute Text
35	5	224	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=464&GAID=14&DocTypeID=HB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/HB/10000HB0464.htm