IL HB4921 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 14 2018 - 25% progression
Action: 2018-04-13 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the State Treasurer Act. Provides that contributions to an ABLE account during the taxable year may be deducted from adjusted gross income in a specified Section of the Illinois Income Tax Act. Defines "donor". Amends the Illinois Income Tax Act. Provides for the modification of adjusted gross income for taxable years beginning on or after January 1, 2019 by adding a maximum of $10,000 contributed in the taxable year to an ABLE account to the calculation of adjusted gross income. Effective immediately.

Tracking Information

Register now for our free OneVote public service or GAITS Professional trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

ABLE ACCT PROG-TAX DEDUCTION

Sponsors


History

DateChamberAction
2018-04-13HouseRule 19(a) / Re-referred to Rules Committee
2018-04-12HouseTo Income Tax Subcommittee
2018-03-21HouseAssigned to Revenue & Finance Committee
2018-02-14HouseReferred to Rules Committee
2018-02-14HouseFirst Reading
2018-02-14HouseFiled with the Clerk by Rep. Natalie A. Manley

Code Citations

ChapterArticleSectionCitation TypeStatute Text
1550516.6Amended CodeCitation Text
355203Amended CodeCitation Text

Illinois State Sources


Bill Comments

feedback