Terra Costa Howard
- Democratic
- Representative
- District 42
Cosponsor
Amends the Illinois Income Tax Act. Provides that a taxpayer who has incurred at least $20,000 in undergraduate student loan debt and has at least $5,000 in outstanding undergraduate student loan debt at the time of the application is entitled to a credit as awarded by the Department of Revenue. Provides that Department of Revenue that the amount of the credit shall not exceed $ 5,000 per taxpayer. Provides that the total amount of credits approved by the Department of Revenue under the provisions of the amendatory Act may not exceed $5,000,000 in any taxable year. Contains recapture provisions. Effective immediately.
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Added Co-Sponsor Rep. Lindsey LaPointe
Added Co-Sponsor Rep. Barbara Hernandez
Rule 19(a) / Re-referred to Rules Committee
Added Co-Sponsor Rep. Jonathan Carroll
To Income Tax Subcommittee
Added Chief Co-Sponsor Rep. Mary Edly-Allen
Added Chief Co-Sponsor Rep. Terra Costa Howard
Added Chief Co-Sponsor Rep. Robyn Gabel
Added Chief Co-Sponsor Rep. Monica Bristow
Assigned to Revenue & Finance Committee
Filed with the Clerk by Rep. Karina Villa
Referred to Rules Committee
First Reading
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