Illinois General Assembly - Bill Status for HB2388

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Bill Status of HB2388 102nd General Assembly

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Short Description: INC TX-STUDENT LOAN

House Sponsors
Rep. Katie Stuart, Jaime M. Andrade, Jr., Will Guzzardi, Jonathan Carroll and Anna Moeller

Last Action

Date	Chamber	Action
1/10/2023	House	Session Sine Die

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 has incurred at least $20,000 in undergraduate student loan debt and has at least $5,000 in outstanding undergraduate student loan debt at the time of the application is entitled to a credit as awarded by the Department of Revenue. Provides that Department of Revenue that the amount of the credit shall not exceed $ 5,000 per taxpayer. Provides that the total amount of credits approved by the Department of Revenue under the provisions of the amendatory Act may not exceed $5,000,000 in any taxable year. Contains recapture provisions. Effective immediately.

Actions

Date	Chamber	Action
2/17/2021	House	Filed with the Clerk by Rep. Katie Stuart
2/17/2021	House	First Reading
2/17/2021	House	Referred to Rules Committee
3/9/2021	House	Assigned to Revenue & Finance Committee
3/18/2021	House	To Income Tax Subcommittee
3/27/2021	House	Rule 19(a) / Re-referred to Rules Committee
7/7/2021	House	Added Co-Sponsor Rep. Jaime M. Andrade, Jr.
7/7/2021	House	Added Co-Sponsor Rep. Will Guzzardi
7/19/2021	House	Added Co-Sponsor Rep. Jonathan Carroll
11/9/2021	House	Added Co-Sponsor Rep. Anna Moeller
1/10/2023	House	Session Sine Die

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