Bill Status of HB4563 100th General Assembly
Short Description: INVEST KIDS-SCHOLARSHIP ORGS
Rep. Peter Breen - Keith R. Wheeler, Margo McDermed, Allen Skillicorn, Patricia R. Bellock, Avery Bourne and Christine Winger
| 1/8/2019||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Invest in Kids Act. Provides that contributions to a school district foundation are also qualified contributions under the Act. Provides that taxpayers who make contributions to a school district foundation are also eligible for a property tax credit. Provides that the term "contribution" means a donation made by the taxpayer during the taxable year for providing scholarships or support (currently, scholarships only). Contains provisions concerning the calculation of the credit or abatement for contributions to school district foundations and the aggregate amount of the credit and abatement available for those contributions. Amends the School Code. Provides that payments under the evidence-based funding formula shall be reduced by the amount of qualified contributions received by the applicable school district foundation under the Invest in Kids Act. Effective immediately.