Bill Sponsors: IL HB3407 | 2019-2020 | 101st General Assembly
Bill Title: 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.
Spectrum: Partisan Bill (Democrat 8-0)
Status: (Introduced - Dead) 2019-08-07 - Added Co-Sponsor Rep. Lindsey LaPointe [HB3407 Detail]
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 8-0)
Status: (Introduced - Dead) 2019-08-07 - Added Co-Sponsor Rep. Lindsey LaPointe [HB3407 Detail]
Text: Latest bill text (Introduced) [HTML]
Sponsors
Name | Type | Sponsorship | District | Financial | Encyclopedia | Biography |
---|---|---|---|---|---|---|
Senator Karina Villa [D] | Primary | Sponsored Bills | SD-025 | FollowTheMoney | Ballotpedia | VoteSmart |
Representative Terra Costa Howard [D] | Cosponsor | Sponsored Bills | HD-042 | FollowTheMoney | Ballotpedia | VoteSmart |
Representative Robyn Gabel [D] | Cosponsor | Sponsored Bills | HD-018 | FollowTheMoney | Ballotpedia | VoteSmart |
Senator Mary Edly-Allen [D] | Cosponsor | Sponsored Bills | SD-031 | FollowTheMoney | Ballotpedia | VoteSmart |
Representative Monica Bristow [D] | Cosponsor | Sponsored Bills | HD-111 | FollowTheMoney | Ballotpedia | VoteSmart |
Representative Jonathan Carroll [D] | Cosponsor | Sponsored Bills | HD-057 | FollowTheMoney | Ballotpedia | VoteSmart |
Representative Barbara Hernandez [D] | Cosponsor | Sponsored Bills | HD-050 | FollowTheMoney | Ballotpedia | VoteSmart |
Representative Lindsey LaPointe [D] | Cosponsor | Sponsored Bills | HD-019 | FollowTheMoney | Ballotpedia | VoteSmart |