Illinois Senate bill in Session 104.
Status: in_committee. Latest action: June 2, 2025.
INC TX-ABLE ACCOUNTS.
Amends the Illinois Income Tax Act. Creates an income tax credit for contributions to an ABLE account. Provides that the credit shall be in an amount equal to 25% of that matching contribution, but not to exceed $500 per contributing employee per taxable year. Effective immediately.
| Date | Event | Detail |
|---|---|---|
| 2025-02-06 | Introduced | Bill introduced |
| 2025-06-02 | Status | in_committee |
| 2025-06-02 | Latest Action | 6/02/2025 - Senate: |