IL SB3260 | 2013-2014 | 98th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 13 2015 - 100% progression
Action: 2015-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 13 2015 - 100% progression
Action: 2015-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Creates a deduction in an amount equal to the difference between the total amount of interest paid by the taxpayer during the taxable year on any qualified education loan and the amount of the deduction claimed by the taxpayer under a provision of the Internal Revenue Code for the same loan. Provides that the deduction is exempt from the Act's automatic sunset provision. Effective immediately.
Title
INC TX-STUDENT LOANS
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2015-01-13 | Senate | Session Sine Die |
| 2014-03-28 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2014-02-27 | Senate | To Subcommittee on Tax Credits |
| 2014-02-25 | Senate | Assigned to Revenue |
| 2014-02-14 | Senate | Referred to Assignments |
| 2014-02-14 | Senate | First Reading |
| 2014-02-14 | Senate | Filed with Secretary by Sen. Michael W. Frerichs |
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=3260&GAID=12&DocTypeID=SB&SessionID=85&GA=98 |
| Text | https://www.ilga.gov/legislation/98/SB/09800SB3260.htm |
