INVEST IN KIDS-REENACT

HB 1342 makes Illinois' Invest in Kids tax credit program permanent, allowing Illinois taxpayers to claim credits for donations to approved scholarship organizations. The program provides scholarships to low-income students (from families earning under 300% of the federal poverty level) attending non-public schools in Illinois, covering necessary school costs like tuition and fees. Taxpayers receive a credit equal to their contribution amount, with scholarship grants capped at the school's required costs. The bill permanently amends the Illinois Income Tax Act to implement this education funding mechanism, effective immediately.