SB2963 - 104th General Assembly (2025-2026)

INC TX-STUDENT LOAN REPAYMENT
Last Action
2/03/2026 - Senate: Assigned to Revenue
Statutes Amended In Order of Appearance
35 ILCS 5/203  from 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
DateChamberAction
1/27/2026SenateFiled with Secretary by Sen. Meg Loughran Cappel
1/27/2026SenateFirst Reading
1/27/2026SenateReferred to Assignments
2/03/2026SenateAssigned to Revenue