Illinois General Assembly - Bill Status for HB5460
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 Bill Status of HB5460  100th General Assembly


Short Description:  HIGHER ED-COLLEGE SAVINGS

House Sponsors
Rep. Norine K. Hammond

Last Action
DateChamber Action
  1/8/2019HouseSession Sine Die

Statutes Amended In Order of Appearance
15 ILCS 505/16.5
110 ILCS 979/45.5 new


Synopsis As Introduced
Amends the State Treasurer Act and Illinois Prepaid Tuition Act. Provides that, beginning on July 1, 2018, for a designated beneficiary or qualified beneficiary who is a State resident, no contributions toward the College Savings Pool or the purchase of an Illinois prepaid tuition contract may be considered in evaluating the financial situation of the beneficiary or be deemed a financial resource or form of financial aid or assistance to the beneficiary for purposes of determining the eligibility of the beneficiary for any scholarship, grant, or monetary assistance awarded by the Illinois Student Assistance Commission. Provides that contributions toward the College Savings Pool or the purchase of an Illinois prepaid tuition contract may not reduce the amount of any scholarship, grant, or monetary assistance that the beneficiary is eligible to be awarded by the Commission. Effective immediately.

Actions 
DateChamber Action
  2/16/2018HouseFiled with the Clerk by Rep. Norine K. Hammond
  2/16/2018HouseFirst Reading
  2/16/2018HouseReferred to Rules Committee
  1/8/2019HouseSession Sine Die

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