Illinois General Assembly - Bill Status for HB5374

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Bill Status of HB5374 96th General Assembly

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Short Description: INC TX-401(K)-COLLEGE EXPENSES

House Sponsors
Rep. Fred Crespo - Keith Farnham, Carol A. Sente and Anthony DeLuca

Last Action

Date	Chamber	Action
1/11/2011	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/203

from Ch. 120, par. 2-203

Synopsis As Introduced
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.

Actions

Date	Chamber	Action
2/4/2010	House	Filed with the Clerk by Rep. Fred Crespo
2/5/2010	House	First Reading
2/5/2010	House	Referred to Rules Committee
2/10/2010	House	Added Chief Co-Sponsor Rep. Keith Farnham
2/11/2010	House	Added Co-Sponsor Rep. Carol A. Sente
3/4/2010	House	Added Co-Sponsor Rep. Anthony DeLuca
1/11/2011	House	Session Sine Die

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