ABLE ACCT PROG-TAX DEDUCTION
Summary
Amends the State Treasurer Act. Provides that contributions to an ABLE account during the taxable year may be deducted from adjusted gross income in a specified Section of the Illinois Income Tax Act. Defines "donor". Amends the Illinois Income Tax Act. Provides for the modification of adjusted gross income for taxable years beginning on or after January 1, 2019 by adding a maximum of $10,000 contributed in the taxable year to an ABLE account to the calculation of adjusted gross income. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2018
Committee Review
Floor Vote
Governor
Introduced Feb 14, 2018
Last action Jan 8, 2019
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
1
Committee
4
Apr 13, 2018
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Apr 12, 2018
Lower · Passed
To Income Tax Subcommittee
lower
Mar 21, 2018
Committee
Assigned to Revenue & Finance Committee
lower
Feb 14, 2018
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor
Sponsors
No sponsor information available.
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