Bill Status of SB1344  93rd General Assembly

Short Description:  INC TAX-COLLEGE SAVINGS PLANS

Senate Sponsors
Sen. Dan Cronin

Last Action
DateChamber Action
  1/11/2005SenateSession 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. In provisions requiring individual taxpayers to add distributions from qualified tuition programs other than those administered by the State of Illinois back into adjusted gross income, provides that distributions do not have to be added back if they are from qualified tuition programs that are administered by a state that has passed a law that provides an unlimited state tax deduction for moneys distributed from a qualified tuition program administered by the State of Illinois. In provisions authorizing a deduction for contributions to a College Savings Pool account under the State Treasurer Act, also allows a deduction for contributions to the Illinois Prepaid Tuition Trust Fund. Effective immediately.

Actions 
DateChamber Action
  2/20/2003SenateFiled with Secretary by Sen. Dan Cronin
  2/20/2003SenateFirst Reading
  2/20/2003SenateReferred to Rules
  2/27/2003SenateAssigned to Revenue
  3/6/2003SenatePostponed - Revenue
  3/14/2003SenateRule 3-9(a) / Re-referred to Rules
  1/11/2005SenateSession Sine Die