Bill Title: Amends the Illinois Income Tax Act. Provides that each taxpayer who makes a contribution to a specified individual College Savings Pool Account or to the Illinois Prepaid Tuition Trust Fund in an amount matching a contribution made in the same taxable year by an employee of the taxpayer to that Account or Fund is entitled to a credit in an amount equal to 25% of that matching contribution, but not to exceed $800 (rather than $500) per contributing employee per taxable year. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2014-12-03 - Session Sine Die [HB5650 Detail]

Text: Latest bill text (Introduced) [HTML]

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