Comments: IL SB2017 | 2017-2018 | 100th General Assembly

Bill Title: 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.

Spectrum: Bipartisan Bill

Status: (Introduced) 2018-01-30 - Re-assigned to Revenue [SB2017 Detail]

Text: Latest bill text (Introduced) [HTML]

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