Bill Status of HB2973 101st General Assembly
Short Description: INC TAX-STUDENT LOAN
Rep. Mark L. Walker, Jonathan Carroll, Karina Villa, Daniel Didech, Sam Yingling, Jennifer Gong-Gershowitz and Jawaharial Williams
| 1/13/2021||House||Session Sine Die|
Statutes Amended In Order of Appearance
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.