Illinois House Bill 3407 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 8-0)
Status: Introduced on February 15 2019 - 25% progression, died in committee
Action: 2019-08-07 - Added Co-Sponsor Rep. Lindsey LaPointe
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Provides that a taxpayer who has incurred at least $20,000 in undergraduate student loan debt and has at least $5,000 in outstanding undergraduate student loan debt at the time of the application is entitled to a credit as awarded by the Department of Revenue. Provides that Department of Revenue that the amount of the credit shall not exceed $ 5,000 per taxpayer. Provides that the total amount of credits approved by the Department of Revenue under the provisions of the amendatory Act may not exceed $5,000,000 in any taxable year. Contains recapture provisions. Effective immediately.

INC TX-STUDENT LOAN

Sen. Karina Villa [D]	Rep. Terra Costa Howard [D]	Rep. Robyn Gabel [D]	Sen. Mary Edly-Allen [D]
Rep. Monica Bristow [D]	Rep. Jonathan Carroll [D]	Rep. Barbara Hernandez [D]	Rep. Lindsey LaPointe [D]

Date	Chamber	Action
2019-08-07	House	Added Co-Sponsor Rep. Lindsey LaPointe
2019-04-11	House	Added Co-Sponsor Rep. Barbara Hernandez
2019-03-29	House	Rule 19(a) / Re-referred to Rules Committee
2019-03-25	House	Added Co-Sponsor Rep. Jonathan Carroll
2019-03-14	House	To Income Tax Subcommittee
2019-03-12	House	Added Chief Co-Sponsor Rep. Monica Bristow
2019-03-12	House	Added Chief Co-Sponsor Rep. Mary Edly-Allen
2019-03-12	House	Added Chief Co-Sponsor Rep. Robyn Gabel
2019-03-12	House	Added Chief Co-Sponsor Rep. Terra Costa Howard
2019-03-05	House	Assigned to Revenue & Finance Committee
2019-02-15	House	Referred to Rules Committee
2019-02-15	House	First Reading
2019-02-15	House	Filed with the Clerk by Rep. Karina Villa

Chapter	Article	Section	Citation Type	Statute Text
35	5	229	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3407&GAID=15&DocTypeID=HB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/HB/10100HB3407.htm