IL SB2017 | 2017-2018 | 100th General Assembly

Status

Spectrum: Bipartisan Bill
Status: Introduced on February 10 2017 - 25% progression
Action: 2017-04-07 - Rule 2-10 Committee Deadline Established As May 5, 2017
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Income Tax Act. Creates a deduction in an amount equal to the amount contributed by taxpayer during the taxable year to an ABLE account. Provides that the deduction shall not exceed $10,000 per taxpayer in any taxable year. Provides that the deduction is exempt from the Act's automatic sunset provision. Effective immediately.

Tracking Information

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Title

INC TX-ABLE CONTRIBUTIONS

Sponsors


History

DateChamberAction
2017-04-07SenateRule 2-10 Committee Deadline Established As May 5, 2017
2017-04-06SenatePostponed - Revenue
2017-04-05SenateAdded as Chief Co-Sponsor Sen. Scott M. Bennett
2017-03-17SenateRule 2-10 Committee Deadline Established As April 7, 2017
2017-03-16SenatePostponed - Revenue
2017-03-09SenatePostponed - Revenue
2017-02-28SenateAssigned to Revenue
2017-02-16SenateAdded as Chief Co-Sponsor Sen. Toi W. Hutchinson
2017-02-16SenateAdded as Chief Co-Sponsor Sen. Pamela J. Althoff
2017-02-10SenateReferred to Assignments
2017-02-10SenateFirst Reading
2017-02-10SenateFiled with Secretary by Sen. Dan McConchie

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355203Amended CodeCitation Text

Illinois State Sources


Bill Comments

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