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HB0724 Engrossed |
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LRB095 04026 NHT 24063 b |
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| (ii) on or after the
effective date of this amendatory Act |
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| of the 93rd General Assembly enrolls
students in one or |
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| more bachelor-level programs,
enrolls a majority of its |
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| students in degree
programs,
and is accredited by a
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| national accrediting agency that is recognized by the U.S. |
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| Department of
Education and (B) which is regulated by the |
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| Illinois Board of Higher
Education under
the Private |
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| College Act or the Academic Degree Act, or which is exempt |
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| from
such regulation under either of the foregoing Acts |
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| solely for the reason that
such educational institution was |
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| in operation on the effective date of either
such Act.
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| (6) Any institution and the franchisees of such |
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| institution which offer
exclusively a course of |
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| instruction in income tax theory or return preparation
at a |
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| total contract price of no more than $400, provided that |
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| the total annual
enrollment of such institution for all |
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| such courses of instruction exceeds 500
students, and |
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| further provided that the total contract price for all
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| instruction offered to a student in any one calendar year |
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| does not exceed $400.
For each calendar year after 1990, |
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| the total contract price shall be adjusted,
rounded off to |
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| the nearest dollar, by the same percentage as the increase |
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| or
decrease in the general price level as measured by the |
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| consumer price index for
all urban consumers for the United |
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| States, or its successor index, as defined
and officially |
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| reported by the United States Department of Labor, or its
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HB0724 Engrossed |
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LRB095 04026 NHT 24063 b |
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| successor agency. The change in the index shall be that as |
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| first published by
the Department of Labor for the calendar |
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| year immediately preceding the year in
which the total |
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| contract price is calculated.
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| (b) An institution exempted under subsection (a) of this |
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| Section must file
with the Superintendent an annual financial |
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| report to demonstrate continued
compliance by the institution |
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| with the requirements on which the exemption is
based.
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| (Source: P.A. 92-62, eff. 1-1-02; 93-919, eff. 8-12-04.)
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law.
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