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 Bill Status of HB4563  100th General Assembly


Short Description:  INVEST KIDS-SCHOLARSHIP ORGS

House Sponsors
Rep. Peter Breen, Margo McDermed, Allen Skillicorn, Patricia R. Bellock and Avery Bourne

Hearings
Revenue & Finance Committee Hearing Mar 1 2018 10:00AM Capitol Building Room 122B Springfield, IL


Last Action
DateChamber Action
  2/12/2018HouseAssigned to Revenue & Finance Committee

Statutes Amended In Order of Appearance
35 ILCS 40/5
35 ILCS 40/10
35 ILCS 40/15
35 ILCS 40/25
35 ILCS 40/30
35 ILCS 40/35
105 ILCS 5/18-8.15


Synopsis As Introduced
Amends the Invest in Kids Act. Provides that contributions to a school district foundation are also qualified contributions under the Act. Provides that taxpayers who make contributions to a school district foundation are also eligible for a property tax credit. Provides that the term "contribution" means a donation made by the taxpayer during the taxable year for providing scholarships or support (currently, scholarships only). Contains provisions concerning the calculation of the credit or abatement for contributions to school district foundations and the aggregate amount of the credit and abatement available for those contributions. Amends the School Code. Provides that payments under the evidence-based funding formula shall be reduced by the amount of qualified contributions received by the applicable school district foundation under the Invest in Kids Act. Effective immediately.

Actions 
DateChamber Action
  2/6/2018HouseFiled with the Clerk by Rep. Peter Breen
  2/6/2018HouseFirst Reading
  2/6/2018HouseReferred to Rules Committee
  2/6/2018HouseAdded Co-Sponsor Rep. Margo McDermed
  2/6/2018HouseAdded Co-Sponsor Rep. Allen Skillicorn
  2/8/2018HouseAdded Co-Sponsor Rep. Patricia R. Bellock
  2/12/2018HouseAssigned to Revenue & Finance Committee
  2/20/2018HouseAdded Co-Sponsor Rep. Avery Bourne

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