Bill Title: Amends the Illinois Income Tax Act. Creates a credit for taxpayers who make a payment toward principal or interest on a qualified education loan, as defined in Section 221 of the Internal Revenue Code, during the taxable year. Provides that the credit shall be equal to the amount paid during the taxable year, but not to exceed $500 per taxable year. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee [HB3094 Detail]

Text: Latest bill text (Introduced) [HTML]

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