REITZ-SILVA. 35 ILCS 5/211 new Amends the Illinois Income Tax Act to create an income tax credit for a taxpayer with an adjusted gross income of less than $100,000 in an amount not to exceed $500 for amounts spent during the taxable year for the tuition and fees of the taxpayer and any dependent of the taxpayer engaged in full-time or part-time undergraduate studies at any public or private college, university, or community college located in Illinois. Provides that this credit is not available to individuals whose tuition or fees are reimbursed by their employers. Provides that the credit may not reduce the taxpayer's income tax liability to less than zero. Applicable to tax years ending on or after December 31, 1999. Sunsets the credit after 10 years. Effective immediately. 99-02-17 H FILED WITH CLERK 99-02-17 H FIRST READING 99-02-17 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-02-18 H ASSIGNED TO COMMITTEE REVENUE 99-02-18 H ADDED AS A JOINT SPONSOR SILVA 99-03-05 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary