Bill Status of SB2963

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SB2963 - 104th General Assembly

INC TX-STUDENT LOAN REPAYMENT
Last Action
2/03/2026 - Senate: Assigned to Revenue
Senate Sponsors
Sen. Meg Loughran Cappel
Statutes Amended In Order of Appearance
35 ILCS 5/203from Ch. 120, par. 2-203
Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax deduction for any amounts paid by the taxpayer's employer on behalf of the taxpayer as part of an educational assistance program. Creates an income tax deduction for any amounts paid by the taxpayer on behalf of an employee of the taxpayer as part of an educational assistance program. Provides that the deductions are limited to the first $5,250 of such assistance so furnished to any individual. Effective immediately.
Actions
Date Chamber Action
1/27/2026 Senate Filed with Secretary by Sen. Meg Loughran Cappel
1/27/2026 Senate First Reading
1/27/2026 Senate Referred to Assignments
2/03/2026 Senate Assigned to Revenue