Bill Status of HB 5374   96th General Assembly

Short Description:  INC TX-401(K)-COLLEGE EXPENSES

House Sponsors
Rep. Fred Crespo-Keith Farnham, Carol A. Sente and Anthony DeLuca

Last Action  View All Actions

DateChamber Action
  1/11/2011HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/203from Ch. 120, par. 2-203

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a deduction for individual taxpayers in an amount equal to the amount included in the taxpayer's adjusted gross income as a result of a voluntary distribution taken from a 401(k) plan to the extent that those amounts are used to pay tuition costs at an institution of higher education on behalf of the taxpayer's child. Exempts the deduction from the Act's automatic sunset provision.

Actions 
DateChamber Action
  2/4/2010HouseFiled with the Clerk by Rep. Fred Crespo
  2/5/2010HouseFirst Reading
  2/5/2010HouseReferred to Rules Committee
  2/10/2010HouseAdded Chief Co-Sponsor Rep. Keith Farnham
  2/11/2010HouseAdded Co-Sponsor Rep. Carol A. Sente
  3/4/2010HouseAdded Co-Sponsor Rep. Anthony DeLuca
  1/11/2011HouseSession Sine Die

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