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<xml>
<title>Illinois General Assembly - Bill Status for HB 4615         </title>
<shortdesc>HIGHER ED SAVINGS PROGRAM</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Robyn Gabel-Carol Ammons, Mary Edly-Allen and Kambium Buckner</sponsors>
</sponsor>
<lastaction>
<statusdate>1/13/2021</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>15 ILCS 505/16.8</reference><aliasreference></aliasreference><reference>30 ILCS 105/5.930 new</reference><aliasreference></aliasreference><reference>35 ILCS 5/917</reference><aliasreference>from Ch. 120, par. 9-917</aliasreference><SynopsisText>     Amends the State Treasurer Act. Establishes the Illinois Higher Education Savings Program as a part of the College Savings Pool (currently, not a part of the College Savings Pool), subject to appropriation by the General Assembly. Requires the Department of Public Health and the Department of Revenue to provide the State Treasurer with specified information concerning eligible children under the Program. Modifies provisions concerning seed funds, unclaimed seed funds, and incentives and partnerships. Establishes the Illinois Higher Education Savings Program Fund as a special fund in the State treasury (currently, held outside of the State treasury). Allows the State Treasurer to deposit up to $10,000,000 into the Fund from earnings generated from investment and safekeeping of funds in the State treasury. Amends the Illinois Income Tax Act. Provides that the Director of Revenue may exchange information with the State Treasurer's Office for the purpose of administering the Illinois Higher Education Savings Program. Amends the State Finance Act to provide for the Illinois Higher Education Savings Program Fund. Modifies defined terms. Makes conforming and other changes. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>2/5/2020</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Robyn Gabel</action>
<statusdate>2/5/2020</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/5/2020</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>2/25/2020</statusdate><chamber>House</chamber><action>Assigned to Higher Education Committee</action>
<statusdate>2/26/2020</statusdate><chamber>House</chamber><action>Added Co-Sponsor Rep. Mary Edly-Allen</action>
<statusdate>3/4/2020</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. Carol Ammons</action>
<statusdate>3/4/2020</statusdate><chamber>House</chamber><action>Do Pass / Short Debate Higher Education Committee;  012-007-000</action>
<statusdate>3/5/2020</statusdate><chamber>House</chamber><action>Placed on Calendar 2nd Reading - Short Debate</action>
<statusdate>3/5/2020</statusdate><chamber>House</chamber><action>Added Co-Sponsor Rep. Kambium Buckner</action>
<statusdate>6/23/2020</statusdate><chamber>House</chamber><action>Rule 19(b) / Re-referred to Rules Committee</action>
<statusdate>1/13/2021</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

