Bill Title: Amends the State Treasurer Act. Provides that the Department of Revenue shall provide the State Treasurer with the adjusted gross income of tax filers claiming dependents or the adoption tax credit. Provides that the State Treasurer may make supplementary deposits to children in financially insecure households if funds are deposited into the omnibus accounts. Provides that, subject to appropriation, the State Treasurer may make supplementary deposits of $50, or greater if designated by the State Treasurer rule, into the account of each beneficiary whose parent or legal guardian has an adjusted gross income below the Illinois median household income. Provides that the supplementary deposits shall be limited to one deposit per beneficiary.

Spectrum: Partisan Bill (Democrat 6-0)

Status: (Passed) 2024-07-01 - Effective Date July 1, 2024 [HB4720 Detail]

Text: Latest bill text (Chaptered) [HTML]

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