Illinois General Assembly - Bill Status for HB0464
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 Bill Status of HB0464  100th General Assembly


House Sponsors
Rep. Mike Fortner, Robert W. Pritchard and Natalie A. Manley

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

Statutes Amended In Order of Appearance
35 ILCS 5/224 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Authorizes a credit to individual taxpayers who are residents of Illinois for expenditures made by the taxpayer during the taxable year for qualified college tuition expenses paid for the taxpayer or a dependent of the taxpayer, as determined under the Act, for up to 4 years of college education for each eligible student attending an institution of higher education. Provides that the amount of the credit is equal to 25% of the qualified college tuition expenses, but not to exceed $2,500 per student per taxable year. Provides that, if a taxpayer claims a credit for a dependent, then that dependent may not claim a credit on the dependent's return for that taxable year. Defines "qualified college tuition expenses" as the tuition required for the enrollment or attendance of an eligible student at an institution of higher education who is eligible to receive grants from the Monetary Award Program, except that tuition payments made through scholarships or other financial aid are excluded and tuition payments for post-baccalaureate or other graduate degrees are excluded. Provides that the credit may not reduce the taxpayer's liability to less than zero and may not be carried back or carried forward. Exempts the credit from the Act's sunset provisions. Effective immediately.

DateChamber Action
  1/17/2017HouseFiled with the Clerk by Rep. Mike Fortner
  1/17/2017HouseFirst Reading
  1/17/2017HouseReferred to Rules Committee
  2/2/2017HouseAssigned to Revenue & Finance Committee
  2/15/2017HouseAdded Co-Sponsor Rep. Robert W. Pritchard
  2/24/2017HouseTo Growth, Reform & Fairness Subcommittee
  3/14/2017HouseAdded Co-Sponsor Rep. Natalie A. Manley
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2019HouseSession Sine Die

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