INC TX-529 CONVERSION
Summary
Amends the Illinois Income Tax Act. Creates a deduction for amounts that are included in the taxpayer's federal adjusted gross income for the taxable year that are attributable to the conversion of funds from a qualified tuition program established pursuant to Section 529 of the Internal Revenue Code to a Roth IRA. Effective immediately.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2024
Committee Review
Floor Vote
Governor
Introduced Feb 9, 2024
Last action Feb 9, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
1
Feb 9, 2024
Committee
Referred to Rules Committee
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Abdelnasser Rashid
DDemocratic
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