INC TX-STUDENT LOANS
Summary
Amends the Illinois Income Tax Act. Creates a deduction in an amount equal to the difference between the total amount of interest paid by the taxpayer during the taxable year on any qualified education loan and the amount of the deduction claimed by the taxpayer under a provision of the Internal Revenue Code for the same loan. Provides that the deduction is exempt from the Act's automatic sunset provision. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2014
Committee Review
Floor Vote
Governor
Introduced Feb 14, 2014
Last action Jan 13, 2015
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
0
Committee
4
Jan 13, 2015
Senate · Failed
Session Sine Die
Mar 28, 2014
Senate · Referred to committee
Rule 3-9(a) / Re-referred to Assignments
Feb 27, 2014
Senate · Reported by committee
To Subcommittee on Tax Credits
Feb 25, 2014
Senate · Referred to committee
Assigned to Revenue
Feb 14, 2014
Senate · Referred to committee
Referred to Assignments
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Michael W. Frerichs
DDemocratic
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