TREASURY-ABLE ACCOUNT
Summary
Amends the State Treasurer Act. Provides that contributions to an ABLE account during the taxable year may be deducted from adjusted gross income as provided under a specified Section of the Illinois Income Tax Act. Amends the Illinois Income Tax Act. In a Section concerning base income, provides that the adjusted gross income shall be modified by adding a maximum amount of, for taxable years beginning on or after January 1, 2018, $10,000 contributed in the taxable year to an ABLE account under a specified Section of the State Treasurer Act. Provides for an exemption from a Section concerning the sunset of exemptions, credits, and deductions under the Act. Effective immediately.
Bill status
failed
4 of 5 stages cleared
Introduction
Apr 2017
Committee Review
Sep 2017
House Passage
Apr 2017
Senate Passage
Aug 2017
Governor
Introduced Apr 27, 2017
Last action Jan 8, 2019
Floor votes · Senate Aug 13, 2017 · House Apr 26, 2017
How they voted
28–17
Passed · 3 other
Total votes 48
Aug 13, 2017
D
Democratic28
96% Yea
R
Republican20
85% Nay
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
102
Key actions
6
Committee
11
Amendments
5
Sep 28, 2017
Committee
Rule 19(b) / Re-referred to Rules Committee
lower
Aug 14, 2017
Introduced
Placed on Calendar Order of Concurrence Senate Amendment(s) 2
lower
Aug 14, 2017
Introduced
Arrived in House
lower
Aug 13, 2017
Upper · Passed
Senate Floor Amendment No. 2 Adopted; Manar
upper
Aug 13, 2017
Introduced
Senate Floor Amendment No. 2 Be Approved for Consideration Assignments
upper
Aug 13, 2017
Committee
Senate Floor Amendment No. 2 Referred to Assignments
upper
Aug 13, 2017
Introduced
Senate Floor Amendment No. 2 Filed with Secretary by Sen. Andy Manar
upper
Aug 13, 2017
Senate · Passed
Senate Vote: pass (28-17-3)
senate
Aug 4, 2017
Committee
Senate Floor Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
upper
Aug 4, 2017
Committee
Pursuant to Senate Rule 3-9(b) / Referred to Assignments
upper
May 25, 2017
Upper · Passed
Senate Floor Amendment No. 1 Pursuant to Senate Rule 3-8(b-1), the following amendment will remain in the Committee on Assignments.
upper
May 25, 2017
Committee
Senate Floor Amendment No. 1 Referred to Assignments
upper
May 25, 2017
Introduced
Senate Floor Amendment No. 1 Filed with Secretary by Sen. John J. Cullerton
upper
May 24, 2017
Upper · Passed
Rule 2-10 Committee Deadline Established As May 31, 2017
upper
May 19, 2017
Committee
Rule 3-9(a) / Re-referred to Assignments
upper
May 12, 2017
Upper · Passed
Rule 2-10 Committee Deadline Established As May 19, 2017
upper
May 2, 2017
Committee
Assigned to Revenue
upper
Apr 27, 2017
Committee
Referred to Assignments
upper
Apr 27, 2017
Introduced
Arrive in Senate
upper
Apr 26, 2017
House · Passed
House Vote: pass (100-0)
house
0 primary · 9 co-sponsors
Sponsors
No sponsor information available.
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