Illinois General Assembly - Bill Status for HB0437
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 Bill Status of HB0437  102nd General Assembly

Short Description:  INC TAX-STUDENT LOAN

House Sponsors
Rep. Mark L. Walker and Rita Mayfield

Revenue & Finance Committee Hearing Jan 20 2022 9:00AM Virtual Room 2 Springfield, IL ** Canceled **

Last Action
DateChamber Action
  1/5/2022HouseAssigned to Revenue & Finance Committee

Statutes Amended In Order of Appearance
35 ILCS 5/232 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that a taxpayer who (i) has an associate's degree, a bachelor's degree, or a graduate degree from an institution of higher education accredited by the U.S. Department of Education, (ii) has annual student loan repayment expenses, and (iii) is employed full-time in the State, or has an offer of full-time employment in the State, in one or more of the specified science and technology fields is eligible for an income tax credit equal to the taxpayer's student loan repayment expenses for the taxable year, but not to exceed a maximum credit limit. Effective immediately.

DateChamber Action
  2/1/2021HouseFiled with the Clerk by Rep. Mark L. Walker
  2/8/2021HouseFirst Reading
  2/8/2021HouseReferred to Rules Committee
  3/2/2021HouseAssigned to Revenue & Finance Committee
  3/11/2021HouseTo Income Tax Subcommittee
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee
  4/15/2021HouseAdded Co-Sponsor Rep. Rita Mayfield
  1/5/2022HouseAssigned to Revenue & Finance Committee

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