Illinois General Assembly - Bill Status for SB1981
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 Bill Status of SB1981  102nd General Assembly


Short Description:  INC TAX- COLLEGE SAVINGS PLAN

Senate Sponsors
Sen. Rickey R. Hendon - Jacqueline Y. Collins - Mattie Hunter, Carole Pankau, Terry Link, Jeffrey M. Schoenberg, Michael Noland, Bill Brady, Linda Holmes, Edward D. Maloney, Pamela J. Althoff, Matt Murphy, John O. Jones, Larry K. Bomke, J. Bradley Burzynski, M. Maggie Crotty, Iris Y. Martinez, Louis S. Viverito, Frank C. Watson and Gary G. Dahl

House Sponsors
(Rep. Frank J. Mautino - David E. Miller - Lou Lang - Angelo Saviano - Thomas Holbrook, Elizabeth Hernandez, Fred Crespo, Tom Cross, Arthur L. Turner, Jack D. Franks, Linda Chapa LaVia, Jack McGuire, Suzanne Bassi, Patricia Reid Lindner, Julie Hamos, Patricia R. Bellock and Joseph M. Lyons)

Last Action
DateChamber Action
  12/15/2008SenatePublic Act . . . . . . . . . 95-1006

Statutes Amended In Order of Appearance
35 ILCS 5/218 new
110 ILCS 947/5
110 ILCS 947/20


Synopsis As Introduced
Amends the Higher Education Student Assistance Act and the Illinois Income tax Act. Authorizes the Illinois Student Assistance Commission to establish systems and programs to encourage employers to match employee contributions to prepaid programs of college savings by making donations to the Commission for prepaid programs of college savings and its programs of grants and loans to make higher education affordable for all residents of the State and to receive, hold, and disburse all such funds made available through those programs for the purposes for which they are authorized by rule or by law. Creates an income tax credit for employers who, during the taxable year, make a matching donation to the Illinois Student Assistance Commission on behalf of an employee. Provides that the credit is 25% of the matching donation, but not to exceed $500 per employee. Provides that the credit may be carried forward for 3 taxable years. Effective immediately.

Senate Committee Amendment No. 1
In the Illinois Income Tax Act, with respect to the credit for student-assistance contributions, deletes a requirement that the donation be made to the Illinois Student Assistance Commission. Makes other changes.

House Committee Amendment No. 1
Deletes reference to:
35 ILCS 5/218
110 ILCS 947/5
110 ILCS 947/20
Adds reference to:
35 ILCS 16/10
35 ILCS 16/95 rep.

Replaces everything after the enacting clause. Amends the Film Production Services Tax Credit Act of 2008. Repeals a Section of the Act that provides that the Act will sunset on January 1, 2009. Provides that, for an accredited production commencing on or after January 1, 2009, the amount of the credit is (i) 30% (instead of 20%) of the Illinois production spending for the taxable year, and (ii) 15% of the Illinois labor expenditures generated by the employment of residents from areas of high unemployment or high poverty. Imposes conditions on any rulemaking authority. Effective immediately.

Actions 
DateChamber Action
  2/7/2008SenateFiled with Secretary by Sen. James F. Clayborne, Jr.
  2/7/2008SenateFirst Reading
  2/7/2008SenateReferred to Rules
  2/14/2008SenateAssigned to Revenue
  2/20/2008SenateAdded as Co-Sponsor Sen. Carole Pankau
  2/20/2008SenateAdded as Co-Sponsor Sen. Terry Link
  2/20/2008SenateAdded as Co-Sponsor Sen. Jeffrey M. Schoenberg
  2/20/2008SenateAdded as Co-Sponsor Sen. Michael Noland
  2/21/2008SenateAdded as Co-Sponsor Sen. Bill Brady
  2/28/2008SenatePostponed - Revenue
  2/28/2008SenateAdded as Co-Sponsor Sen. Linda Holmes
  3/5/2008SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. James F. Clayborne, Jr.
  3/5/2008SenateSenate Committee Amendment No. 1 Referred to Rules
  3/5/2008SenateAdded as Co-Sponsor Sen. Edward D. Maloney
  3/5/2008SenateSenate Committee Amendment No. 1 Rules Refers to Revenue
  3/6/2008SenateSenate Committee Amendment No. 1 Adopted
  3/6/2008SenateDo Pass as Amended Revenue; 008-000-000
  3/6/2008SenatePlaced on Calendar Order of 2nd Reading March 11, 2008
  3/11/2008SenateAdded as Co-Sponsor Sen. Pamela J. Althoff
  3/13/2008SenateSecond Reading
  3/13/2008SenatePlaced on Calendar Order of 3rd Reading April 1, 2008
  4/1/2008SenateAdded as Co-Sponsor Sen. Matt Murphy
  4/1/2008SenateAdded as Co-Sponsor Sen. John O. Jones
  4/1/2008SenateAdded as Co-Sponsor Sen. Larry K. Bomke
  4/1/2008SenateAdded as Co-Sponsor Sen. J. Bradley Burzynski
  4/1/2008SenateAdded as Co-Sponsor Sen. M. Maggie Crotty
  4/1/2008SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
  4/1/2008SenateThird Reading - Passed; 050-000-000
  4/1/2008HouseArrived in House
  4/1/2008HousePlaced on Calendar Order of First Reading
  4/1/2008HouseChief House Sponsor Rep. Frank J. Mautino
  4/1/2008HouseAdded Alternate Chief Co-Sponsor Rep. David E. Miller
  4/1/2008HouseFirst Reading
  4/1/2008HouseReferred to Rules Committee
  4/2/2008SenateAdded as Co-Sponsor Sen. Iris Y. Martinez
  4/2/2008SenateAdded as Co-Sponsor Sen. Louis S. Viverito
  4/3/2008SenateAdded as Co-Sponsor Sen. Frank C. Watson
  4/9/2008SenateAdded as Co-Sponsor Sen. Gary G. Dahl
  4/29/2008HouseAdded Alternate Chief Co-Sponsor Rep. Lou Lang
  4/29/2008HouseAdded Alternate Co-Sponsor Rep. Elizabeth Hernandez
  4/29/2008HouseAdded Alternate Co-Sponsor Rep. Fred Crespo
  11/6/2008HouseFinal Action Deadline Extended-9(b) November 30, 2008
  11/6/2008HouseAssigned to Revenue Committee
  11/13/2008SenateChief Sponsor Changed to Sen. Rickey R. Hendon
  11/19/2008HouseHouse Committee Amendment No. 1 Filed with Clerk by Revenue Committee
  11/19/2008HouseHouse Committee Amendment No. 1 Adopted in Revenue Committee; by Voice Vote
  11/19/2008HouseDo Pass as Amended / Short Debate Revenue Committee; 009-000-000
  11/19/2008HousePlaced on Calendar 2nd Reading - Short Debate
  11/19/2008HouseAdded Alternate Chief Co-Sponsor Rep. Angelo Saviano
  11/19/2008HouseAdded Alternate Chief Co-Sponsor Rep. Thomas Holbrook
  11/19/2008HouseAdded Alternate Co-Sponsor Rep. Tom Cross
  11/19/2008HouseAdded Alternate Co-Sponsor Rep. Arthur L. Turner
  11/19/2008HouseSecond Reading - Short Debate
  11/19/2008HousePlaced on Calendar Order of 3rd Reading - Short Debate
  11/20/2008House3/5 Vote Required
  11/20/2008HouseThird Reading - Short Debate - Passed 108-002-000
  11/20/2008HouseAdded Alternate Co-Sponsor Rep. Jack D. Franks
  11/20/2008HouseAdded Alternate Co-Sponsor Rep. Linda Chapa LaVia
  11/20/2008HouseAdded Alternate Co-Sponsor Rep. Jack McGuire
  11/20/2008HouseAdded Alternate Co-Sponsor Rep. Suzanne Bassi
  11/20/2008HouseAdded Alternate Co-Sponsor Rep. Patricia Reid Lindner
  11/20/2008HouseAdded Alternate Co-Sponsor Rep. Julie Hamos
  11/20/2008HouseAdded Alternate Co-Sponsor Rep. Patricia R. Bellock
  11/20/2008HouseAdded Alternate Co-Sponsor Rep. Joseph M. Lyons
  11/20/2008SenateSecretary's Desk - Concurrence House Amendment(s) 01
  11/20/2008SenatePlaced on Calendar Order of Concurrence House Amendment(s) November 20, 2008; 01
  11/20/2008SenateHouse Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Rickey R. Hendon
  11/20/2008SenateHouse Committee Amendment No. 1 Motion to Concur Referred to Rules
  11/20/2008SenateHouse Committee Amendment No. 1 Motion to Concur Rules Referred to Executive
  11/20/2008SenateHouse Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 009-000-000
  11/20/2008SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter
  11/20/2008SenateHouse Committee Amendment No. 1 3/5 Vote Required
  11/20/2008SenateHouse Committee Amendment No. 1 Senate Concurs 052-000-001
  11/20/2008SenatePassed Both Houses
  11/25/2008SenateSent to the Governor
  12/15/2008SenateGovernor Approved
  12/15/2008SenateEffective Date December 15, 2008
  12/15/2008SenatePublic Act . . . . . . . . . 95-1006

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