IL SB3897 | 2019-2020 | 101st General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Invest in Kids Act and the Illinois Income Tax Act. Provides that a taxpayer may not take a credit pursuant to the Invest in Kids Act for tax years beginning on or after January 1, 2021 (currently January 1, 2023). Provides that the Invest in Kids Act is repealed on January 1, 2022. Amends the School Code. Provides that, for State fiscal years 2022 through 2025, an amount shall be transferred from the General Revenue Fund to the Common School Fund equal to the amount of credits granted under the Invest in Kids Act in State fiscal year 2019.
Title
INVEST IN KIDS-REPEAL
Sponsors
History
Date | Chamber | Action |
---|---|---|
2021-01-13 | Senate | Session Sine Die |
2020-02-19 | Senate | Referred to Assignments |
2020-02-19 | Senate | First Reading |
2020-02-19 | Senate | Filed with Secretary by Sen. Cristina Castro |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
105 | 5 | 18-1 | Amended Code | Citation Text |
35 | 40 | 40 | Amended Code | Citation Text |
35 | 40 | 65 | Amended Code | Citation Text |
35 | 5 | 224 | Amended Code | Citation Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3897&GAID=15&DocTypeID=SB&SessionID=108&GA=101 |
Text | https://www.ilga.gov/legislation/101/SB/10100SB3897.htm |