Illinois House Bill 5189 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 29 2010 - 25% progression, died in committee
Action: 2010-03-15 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Authorizes a credit to individual taxpayers who are residents of Illinois for expenditures made by the taxpayer during the taxable year for qualified college tuition expenses paid for the taxpayer or a dependent of the taxpayer, as determined under the Act, for up to 4 years of college education for each eligible student attending an institution of higher education. The amount of the credit is equal to 25% of the qualified college tuition expenses, but not to exceed $2,500 per student per taxable year. If a taxpayer claims a credit for a dependent, then that dependent may not claim a credit on the dependent's return for that taxable year. Defines "qualified college tuition expenses" as the tuition required for the enrollment or attendance of a student who is eligible to receive grants from the Monetary Award Program at an institution of higher education, except that tuition payments made through scholarships or other financial aid are excluded and tuition payments for post-baccalaureate or other graduate degrees are excluded. Provides that the credit may not reduce the taxpayer's liability to less than zero and may not be carried back or carried forward. Exempt from the Act's sunset provisions. Effective immediately.

INC TAX-HIGHER EDUCATION

Rep. Mike Fortner [R]

Date	Chamber	Action
2010-03-15		Rule 19(a) / Re-referred to Rules Committee
2010-02-16		Assigned to Revenue & Finance Committee
2010-02-01		Referred to Rules Committee
2010-02-01		First Reading
2010-01-29		Filed with the Clerk by Rep. Mike Fortner

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5189&GAID=10&DocTypeID=HB&SessionID=76&GA=96
Text	https://www.ilga.gov/legislation/96/HB/09600HB5189.htm