Illinois House Bill 4615 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 4-0)
Status: Introduced on February 5 2020 - 25% progression, died in committee
Action: 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the State Treasurer Act. Establishes the Illinois Higher Education Savings Program as a part of the College Savings Pool (currently, not a part of the College Savings Pool), subject to appropriation by the General Assembly. Requires the Department of Public Health and the Department of Revenue to provide the State Treasurer with specified information concerning eligible children under the Program. Modifies provisions concerning seed funds, unclaimed seed funds, and incentives and partnerships. Establishes the Illinois Higher Education Savings Program Fund as a special fund in the State treasury (currently, held outside of the State treasury). Allows the State Treasurer to deposit up to $10,000,000 into the Fund from earnings generated from investment and safekeeping of funds in the State treasury. Amends the Illinois Income Tax Act. Provides that the Director of Revenue may exchange information with the State Treasurer's Office for the purpose of administering the Illinois Higher Education Savings Program. Amends the State Finance Act to provide for the Illinois Higher Education Savings Program Fund. Modifies defined terms. Makes conforming and other changes. Effective immediately.

HIGHER ED SAVINGS PROGRAM

Rep. Robyn Gabel [D]

Rep. Carol Ammons [D]

Sen. Mary Edly-Allen [D]

Rep. Kambium Buckner [D]

Date	Chamber	Action
2020-06-23	House	Rule 19(b) / Re-referred to Rules Committee
2020-03-05	House	Added Co-Sponsor Rep. Kambium Buckner
2020-03-05	House	Placed on Calendar 2nd Reading - Short Debate
2020-03-04	House	Do Pass / Short Debate Higher Education Committee; 012-007-000
2020-03-04	House	Added Chief Co-Sponsor Rep. Carol Ammons
2020-02-26	House	Added Co-Sponsor Rep. Mary Edly-Allen
2020-02-25	House	Assigned to Higher Education Committee
2020-02-05	House	Referred to Rules Committee
2020-02-05	House	First Reading
2020-02-05	House	Filed with the Clerk by Rep. Robyn Gabel

Chapter	Article	Section	Citation Type	Statute Text
15	505	16.8	Amended Code	Citation Text
30	105	5.930	New Code	See Bill Text
35	5	917	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4615&GAID=15&DocTypeID=HB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/HB/10100HB4615.htm