IL SB3897 | 2019-2020 | 101st General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 19 2020 - 25% progression
Action: 2020-02-19 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Invest in Kids Act and the Illinois Income Tax Act. Provides that a taxpayer may not take a credit pursuant to the Invest in Kids Act for tax years beginning on or after January 1, 2021 (currently January 1, 2023). Provides that the Invest in Kids Act is repealed on January 1, 2022. Amends the School Code. Provides that, for State fiscal years 2022 through 2025, an amount shall be transferred from the General Revenue Fund to the Common School Fund equal to the amount of credits granted under the Invest in Kids Act in State fiscal year 2019.

Tracking Information

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Title

INVEST IN KIDS-REPEAL

Sponsors


History

DateChamberAction
2020-02-19SenateReferred to Assignments
2020-02-19SenateFirst Reading
2020-02-19SenateFiled with Secretary by Sen. Cristina Castro

Code Citations

ChapterArticleSectionCitation TypeStatute Text
105518-1Amended CodeCitation Text
354040Amended CodeCitation Text
354065Amended CodeCitation Text
355224Amended CodeCitation Text

Illinois State Sources


Bill Comments

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