LOPEZ, BERGMAN, ZICKUS, COWLISHAW, DART, LYONS,EILEEN,
BURKE, BRADLEY, JOHNSON,TOM, FRITCHEY, BUGIELSKI AND BOLAND.
INC TX-EDUCATION EXPENSE CR
Synopsis of Bill as introduced:
Amends the Illinois Income Tax Act. Provides that beginning with
tax years ending after December 31, 1997, a taxpayer who is the
custodian of a qualified pupil shall be allowed an income tax credit
equal to $500 per pupil for qualified education expenses. Provides
that any credit in excess of the tax liability shall be refunded to
the taxpayer. Provides that the pupil must be (i) a resident of
Illinois, (ii) under 21 years of age at the close of the school year
for which the credit is sought, and (iii) a full-time pupil enrolled
in a kindergarten through twelfth grade education program at any
public or nonpublic elementary school that meets certain standards.
Provides that qualified education expenses are costs in excess of $250
that are incurred on behalf of the pupil for services at the school.
Provides that the credit is available to the parent, parents, or legal
guardian of the pupil. Exempts the credit from the sunset provisions.
HOUSE AMENDMENT NO. 1.
Provides that the credit shall be equal to 25% of qualified
education expenses, but in no event may the total credit claimed by a
family that is the custodian of one or more qualifying pupils exceed
$500 (now the credit is equal to $500 per elementary or secondary
school pupil). Provides that qualified education expenses are amounts
in excess of $250 spent for tuition, book fees, and lab fees at the
school in which the pupil is enrolled during the regular school year
(now amounts in excess of $250 for services at the school). Makes
STATE MANDATES FISCAL NOTE, H-AM 1
HB999, with H-am 1, fails to create a State mandate.
FISCAL NOTE, H-AM 1 (Dept. of Revenue)
The negative fiscal impact of HB 999 is indeterminable.
Last action on Bill: TOTAL VETO STANDS
Last action date: 98-01-21
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0
END OF INQUIRY
Full Text Bill Status