Bill Title: Amends the State Treasurer Act and Illinois Prepaid Tuition Act. Provides that, beginning on July 1, 2020, for a designated beneficiary or qualified beneficiary who is a State resident, no contributions toward the College Savings Pool or the purchase of an Illinois prepaid tuition contract may be considered in evaluating the financial situation of the beneficiary or be deemed a financial resource or form of financial aid or assistance to the beneficiary for purposes of determining the eligibility of the beneficiary for any scholarship, grant, or monetary assistance awarded by the Illinois Student Assistance Commission. Provides that contributions toward the College Savings Pool or the purchase of an Illinois prepaid tuition contract may not reduce the amount of any scholarship, grant, or monetary assistance that the beneficiary is eligible to be awarded by the Commission. Effective June 1, 2020.

Spectrum: Slight Partisan Bill (Republican 4-2)

Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee [HB5388 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2020-02-14	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5388

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5388 currently on file.

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