IL HB5366 | 2023-2024 | 103rd General Assembly
Status
Completed Legislative Action
Sponsorship: Partisan Bill (Democrat 1)
Status: Failed on January 7 2025 - 100% progression
Action: 2025-01-07 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Sponsorship: Partisan Bill (Democrat 1)
Status: Failed on January 7 2025 - 100% progression
Action: 2025-01-07 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Creates a deduction for amounts that are included in the taxpayer's federal adjusted gross income for the taxable year that are attributable to the conversion of funds from a qualified tuition program established pursuant to Section 529 of the Internal Revenue Code to a Roth IRA. Effective immediately.
Title
INC TX-529 CONVERSION
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2025-01-07 | House | Session Sine Die |
| 2024-04-05 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2024-03-08 | House | To Revenue-Income Tax Subcommittee |
| 2024-03-05 | House | Assigned to Revenue & Finance Committee |
| 2024-02-09 | House | Referred to Rules Committee |
| 2024-02-09 | House | First Reading |
| 2024-02-09 | House | Filed with the Clerk by Rep. Harry Benton |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 5 | 203 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5366&GAID=17&DocTypeID=HB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/HB/10300HB5366.htm |
