Illinois General Assembly - Bill Status for HB4751
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 Bill Status of HB4751  100th General Assembly


Short Description:  TREASURER-COLLEGE SAVINGS POOL

House Sponsors
Rep. Emanuel Chris Welch - Natalie A. Manley - Frances Ann Hurley - La Shawn K. Ford and Camille Y. Lilly

Senate Sponsors
(Sen. Bill Cunningham)

Last Action
DateChamber Action
  8/17/2018HousePublic Act . . . . . . . . . 100-0905

Statutes Amended In Order of Appearance
15 ILCS 505/16.5


Synopsis As Introduced
Amends the State Treasurer Act. Modifies and reorganizes the provisions of a Section concerning the College Savings Pool. Provides that the State Treasurer may establish and administer a College Savings Pool as a qualified tuition program under the Internal Revenue Code, and that the Pool may consist of one or more college savings programs. Provides that the State Treasurer, in administering the College Savings Pool, may receive, hold, and invest moneys paid into the Pool and perform such other actions as are necessary to ensure that the Pool operates as a qualified tuition program under the Internal Revenue Code. Provides provisions concerning administration, availability, fees, and investment restrictions of the Pool. Modifies the way in which investments, distributions, contributions, and bonds are made regarding the Pool. Defines terms. Makes conforming, technical, and other changes. Effective immediately.

House Committee Amendment No. 1
Adds reference to:
35 ILCS 5/203from Ch. 120, par. 2-203

Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with changes. Modifies the term "nonqualified withdrawal", and defines the term "member of the family". Provides that funds contained in a College Savings Pool account may be rolled over into an eligible ABLE account to the extent permitted by specified provisions of the Internal Revenue Code. Amends the Illinois Income Tax Act. Provides for a modification to adjusted gross income concerning the transfer of moneys from a qualified tuition program that is administered by the State to an ABLE account established under an out-of-state ABLE account program.

Senate Floor Amendment No. 2
Makes further changes to the Illinois Income Tax Act to provide for modifications to adjusted gross income concerning the distribution, transfer, withdrawal, refund, and contribution of moneys from and to a qualified tuition program or a qualified ABLE program. Makes conforming changes.

Actions 
DateChamber Action
  2/13/2018HouseFiled with the Clerk by Rep. Emanuel Chris Welch
  2/13/2018HouseFirst Reading
  2/13/2018HouseReferred to Rules Committee
  2/27/2018HouseAssigned to State Government Administration Committee
  3/5/2018HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Emanuel Chris Welch
  3/5/2018HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/6/2018HouseHouse Committee Amendment No. 1 Rules Refers to State Government Administration Committee
  3/7/2018HouseHouse Committee Amendment No. 1 Adopted in State Government Administration Committee; by Voice Vote
  3/7/2018HouseDo Pass as Amended / Short Debate State Government Administration Committee; 007-000-000
  3/8/2018HousePlaced on Calendar 2nd Reading - Short Debate
  4/10/2018HouseSecond Reading - Short Debate
  4/10/2018HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/11/2018HouseAdded Chief Co-Sponsor Rep. Frances Ann Hurley
  4/11/2018HouseAdded Chief Co-Sponsor Rep. La Shawn K. Ford
  4/11/2018HouseThird Reading - Short Debate - Passed 098-014-000
  4/12/2018SenateArrive in Senate
  4/12/2018SenatePlaced on Calendar Order of First Reading
  4/12/2018SenateChief Senate Sponsor Sen. Bill Cunningham
  4/12/2018SenateFirst Reading
  4/12/2018SenateReferred to Assignments
  4/25/2018SenateAssigned to State Government
  5/3/2018SenateDo Pass State Government; 007-000-000
  5/3/2018SenatePlaced on Calendar Order of 2nd Reading May 8, 2018
  5/8/2018SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Bill Cunningham
  5/8/2018SenateSenate Floor Amendment No. 1 Referred to Assignments
  5/9/2018SenateSenate Floor Amendment No. 1 Assignments Refers to State Government
  5/10/2018SenateSenate Floor Amendment No. 1 Postponed - State Government
  5/14/2018SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Bill Cunningham
  5/14/2018SenateSenate Floor Amendment No. 2 Referred to Assignments
  5/15/2018SenateSenate Floor Amendment No. 2 Assignments Refers to State Government
  5/17/2018SenateSenate Floor Amendment No. 1 Postponed - State Government
  5/17/2018SenateSenate Floor Amendment No. 2 Recommend Do Adopt State Government; 005-000-000
  5/17/2018SenateSenate Floor Amendment No. 2 Adopted; Cunningham
  5/17/2018SenateSecond Reading
  5/17/2018SenatePlaced on Calendar Order of 3rd Reading May 18, 2018
  5/24/2018SenateThird Reading - Passed; 055-000-000
  5/24/2018SenateSenate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
  5/24/2018HouseArrived in House
  5/24/2018HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 2
  5/28/2018HouseSenate Floor Amendment No. 2 Motion Filed Concur Rep. Emanuel Chris Welch
  5/28/2018HouseSenate Floor Amendment No. 2 Motion to Concur Referred to Rules Committee
  5/28/2018HouseSenate Floor Amendment No. 2 Motion to Concur Rules Referred to State Government Administration Committee
  5/29/2018HouseSenate Floor Amendment No. 2 Motion to Concur Recommends Be Adopted State Government Administration Committee; 007-000-000
  5/31/2018HouseSenate Floor Amendment No. 2 House Concurs 107-003-000
  5/31/2018HouseHouse Concurs
  5/31/2018HousePassed Both Houses
  5/31/2018HouseAdded Chief Co-Sponsor Rep. Natalie A. Manley
  5/31/2018HouseAdded Co-Sponsor Rep. Camille Y. Lilly
  6/29/2018HouseSent to the Governor
  8/17/2018HouseGovernor Approved
  8/17/2018HouseEffective Date August 17, 2018
  8/17/2018HousePublic Act . . . . . . . . . 100-0905

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