INC TX-STUDENT LOAN REPAYMENT

What it does

The legislature's own summary of the bill, or its official long title.

Amends the Illinois Income Tax Act. Creates an income tax deduction for any amounts paid by the taxpayer's employer on behalf of the taxpayer as part of an educational assistance program. Creates an income tax deduction for any amounts paid by the taxpayer on behalf of an employee of the taxpayer as part of an educational assistance program. Provides that the deductions are limited to the first $5,250 of such assistance so furnished to any individual. Effective immediately.

Every action

9 steps, oldest first, as the legislature records them.

1. Feb 6, 2023SenateFiled with Secretary by Sen. Meg Loughran Cappel
2. Feb 6, 2023SenateFirst Reading
3. Feb 6, 2023CommitteeReferred to Assignments · Senate Assignments
4. Feb 9, 2023SenateAdded as Chief Co-Sponsor Sen. Paul Faraci
5. Feb 14, 2023CommitteeAssigned to Revenue · Senate Revenue
6. Mar 10, 2023CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
7. Jan 24, 2024CommitteeRe-assigned to Revenue · Senate Revenue
8. Mar 15, 2024CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
9. Jan 7, 2025SenateSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 1 cosponsor: 1 Democrat.

• Meg Loughran CappelD Primary sponsor · District 49