Illinois General Assembly - Full Text of SB0194

LRB104 06935 HLH 16972 b

104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
SB0194

Introduced 1/22/2025, by Sen. Javier L. Cervantes

SYNOPSIS AS INTRODUCED:

30 ILCS 105/5.1030 new
30 ILCS 105/6z-144 new
35 ILCS 5/507MMM new

Amends the Illinois Income Tax Act. Creates the Illinois Graduate and Retain Our Workforce (iGROW) Tech Scholarship Fund checkoff. Provides that, through the checkoff, taxpayers may contribute to the Illinois Graduate and Retain Our Workforce (iGROW) Tech Scholarship Fund. Amends the State Finance Act to create the Illinois Graduate and Retain Our Workforce (iGROW) Tech Scholarship Fund. Provides that moneys in the Fund shall be used by the Illinois Student Assistance Commission for the purpose of awarding iGROW Tech scholarships. Effective immediately.

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The State Finance Act is amended by adding Sections 5.1030 and 6z-144 as follows:

(30 ILCS 105/5.1030 new)

Sec. 5.1030. The Illinois Graduate and Retain Our Workforce (iGROW) Tech Scholarship Fund.

(30 ILCS 105/6z-144 new)

Sec. 6z-144. The Illinois Graduate and Retain Our Workforce (iGROW) Tech Scholarship Checkoff Fund; creation. The Illinois Graduate and Retain Our Workforce (iGROW) Tech Scholarship Checkoff Fund is hereby created as a special fund in the State treasury. Subject to the appropriation of new moneys made available from the income tax checkoff created under Section 507MMM of the Illinois Income Tax Act, moneys in the Fund shall be used by the Illinois Student Assistance Commission for the purpose of awarding scholarships pursuant to Section 65.120 of the Higher Education Student Assistance Act.

Section 10. The Illinois Income Tax Act is amended by adding Section 507MMM as follows:

(35 ILCS 5/507MMM new)

Sec. 507MMM. Illinois Graduate and Retain Our Workforce (iGROW) Tech Scholarship Fund checkoff. For taxable years ending on or after December 31, 2025, the Department must print on its standard individual income tax form a provision (i) indicating that if the taxpayer wishes to contribute to Illinois Graduate and Retain Our Workforce (iGROW) Tech Scholarship Fund checkoff, as authorized by this amendatory Act of the 104th General Assembly, he or she may do so by stating the amount of the contribution (not less than $1) on the return and (ii) stating that the contribution will reduce the taxpayer's refund or increase the amount of payment to accompany the return. Failure to remit any amount of increased payment shall reduce the contribution accordingly. This Section does not apply to any amended return.

Section 99. Effective date. This Act takes effect upon becoming law.