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SB 529 Illinois Senate · 93rd Regular Session

COLLEGE SAVINGS PROGRAMS

Summary
Amends the Illinois Income Tax Act. Removes a provision that requires a taxpayer to add to federal adjusted gross income, to arrive at base income for Illinois income tax purposes, distributions from a qualified tuition program under Section 529 of the Internal Revenue Code other than distributions from the College Savings Pool or the Illinois Prepaid Tuition Program to the extent those distributions were excluded from income in arriving at federal adjusted gross income. Amends the State Treasurer Act and further amends the Illinois Income Tax Act to allow an income tax deduction for moneys contributed in the taxable year to the College Savings Pool, the Illinois Prepaid Tuition Program, or to any other qualified tuition program under Section 529 of the Internal Revenue Code (now, deduction limited to College Savings Pool contributions). Effective immediately.
Bill status failed 3 of 5 stages cleared
Introduction
Apr 2003
Committee Review
May 2003
Senate Passage
Apr 2003
House Passage
Governor
Introduced Apr 4, 2003 Last action Jan 11, 2005
Floor votes · Senate Apr 3, 2003

How they voted

25–17
Passed · 3 other
Total votes 45
Apr 3, 2003
D Democratic25
25 Yea
100% Yea
R Republican20
17 Nay 3
85% Nay
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
49
Key actions
4
Committee
9
Amendments
5
May 2, 2003
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Apr 8, 2003
Committee
Assigned to Revenue Committee
lower
Apr 4, 2003
Committee
Referred to Rules Committee
lower
Apr 4, 2003
Introduced
Arrived in House
lower
Apr 3, 2003
Amended
Senate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a)
upper
Apr 3, 2003
Senate · Passed
Senate Vote: pass (25-17-3)
senate
Apr 2, 2003
Upper · Passed
Senate Floor Amendment No. 1 Adopted; Welch
upper
Apr 1, 2003
Committee
Senate Floor Amendment No. 2 Referred to Rules
upper
Apr 1, 2003
Introduced
Senate Floor Amendment No. 2 Filed with Secretary by Sen. Chris Lauzen
upper
Mar 27, 2003
Upper · Passed
Senate Floor Amendment No. 1 Be Adopted Revenue; 008-000-001
upper
Mar 26, 2003
Introduced
Senate Floor Amendment No. 1 Rules Refers to Revenue
upper
Mar 26, 2003
Committee
Senate Floor Amendment No. 1 Referred to Rules
upper
Mar 26, 2003
Introduced
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Patrick Welch
upper
Mar 6, 2003
Upper · Passed
Do Pass Revenue; 006-002-000
upper
Feb 19, 2003
Committee
Assigned to Revenue
upper
Feb 18, 2003
Committee
Referred to Rules
upper
0 primary · 6 co-sponsors

Sponsors

No sponsor information available.