INC TX-401(K)-COLLEGE EXPENSES

Amends the Illinois Income Tax Act. Creates a deduction for individual taxpayers in an amount equal to the amount included in the taxpayer's adjusted gross income as a result of a voluntary distribution taken from a 401(k) plan to the extent that those amounts are used to pay tuition costs at an institution of higher education on behalf of the taxpayer's child. Exempts the deduction from the Act's automatic sunset provision.