Illinois Senate Bill 223

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on January 31 2023 - 25% progression
Action: 2023-01-31 - Added as Chief Co-Sponsor Sen. Linda Holmes
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Invest in Kids Act. Provides that no credits may be awarded under the Act for any taxable year that begins in a State fiscal year for which the minimum statutory funding level is not met. Provides that the carry-forward period for those credits shall be suspended for any taxable year that begins in a State fiscal year for which the minimum statutory funding level is not met. Requires the State Board of Education to determine whether or not the State has met the minimum funding level for the fiscal year and to transmit a copy of the determination to the Department of Revenue. Effective immediately.

INVEST IN KIDS-FUNDING

Sen. Cristina Castro [D]

Sen. Linda Holmes [D]

Date	Chamber	Action
2023-01-31	Senate	Added as Chief Co-Sponsor Sen. Linda Holmes
2023-01-31	Senate	Referred to Assignments
2023-01-31	Senate	First Reading
2023-01-31	Senate	Filed with Secretary by Sen. Cristina Castro

Chapter	Article	Section	Citation Type	Statute Text
35	40	70	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=223&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB0223.htm