Bill Status of SB 3897   101st General Assembly

Short Description:  INVEST IN KIDS-REPEAL

Senate Sponsors
Sen. Cristina Castro

Last Action  View All Actions

DateChamber Action
  1/13/2021SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/224
35 ILCS 40/40
35 ILCS 40/65
105 ILCS 5/18-1from Ch. 122, par. 18-1

Synopsis As Introduced
Amends the Invest in Kids Act and the Illinois Income Tax Act. Provides that a taxpayer may not take a credit pursuant to the Invest in Kids Act for tax years beginning on or after January 1, 2021 (currently January 1, 2023). Provides that the Invest in Kids Act is repealed on January 1, 2022. Amends the School Code. Provides that, for State fiscal years 2022 through 2025, an amount shall be transferred from the General Revenue Fund to the Common School Fund equal to the amount of credits granted under the Invest in Kids Act in State fiscal year 2019.

Actions 
DateChamber Action
  2/19/2020SenateFiled with Secretary by Sen. Cristina Castro
  2/19/2020SenateFirst Reading
  2/19/2020SenateReferred to Assignments
  1/13/2021SenateSession Sine Die

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