INC TX-529 PLANS

Amends the Illinois Income Tax Act. Creates a deduction for taxable years ending on or after December 31, 2016 in an amount equal to the contributions made by the taxpayer during the taxable year to any qualified tuition program under Section 529 of the Internal Revenue Code, but not to exceed $10,000 in any taxable year (now, that deduction applies only to contributions made to an in-State 529 plan). Effective immediately.