INC TAX- COLLEGE SAVINGS PLAN House SponsorsRep. Patrick J. Verschoore-Luis Arroyo-Keith Farnham-Arthur L. Turner, Charles E. Jefferson, Brandon W. Phelps, Jack D. Franks, Linda Chapa LaVia, Emily McAsey, Dan Reitz, Careen M. Gordon, Cynthia Soto, William Davis, André M. Thapedi, Marlow H. Colvin, Edward J. Acevedo, Elizabeth Hernandez and John D'Amico Income Tax, Subcommittee Hearing Feb 25 2010 8:05AM Capitol Building Room 122B Springfield, IL 2/23/2010HouseTabled By Sponsor Rep. Patrick J. Verschoore 35 ILCS 5/218 new110 ILCS 947/5110 ILCS 947/20 Amends the Higher Education Student Assistance Act and the Illinois Income Tax Act. Authorizes the Illinois Student Assistance Commission to establish systems and programs to encourage employers to match employee contributions to prepaid programs of college savings by making donations to the Commission for prepaid programs of college savings and its programs of grants and loans to make higher education affordable for all residents of the State and to receive, hold, and disburse all such funds made available through those programs for the purposes for which they are authorized by rule or by law. Creates an income tax credit for employers who, during the taxable year, make a matching donation on behalf of an employee. Provides that the credit is 25% of the matching donation, but not to exceed $500 per employee. Provides that the credit may be carried forward for 3 taxable years. Effective immediately. 1/13/2009HousePrefiled with Clerk by Rep. Patrick J. Verschoore 1/14/2009HouseFirst Reading 1/14/2009HouseReferred to Rules Committee 2/4/2009HouseAdded Chief Co-Sponsor Rep. Luis Arroyo 2/4/2009HouseAdded Co-Sponsor Rep. Charles E. Jefferson 2/4/2009HouseAdded Co-Sponsor Rep. Brandon W. Phelps 2/4/2009HouseAdded Chief Co-Sponsor Rep. Keith Farnham 2/4/2009HouseAssigned to Revenue & Finance Committee 2/9/2009HouseAdded Co-Sponsor Rep. Jack D. Franks 2/10/2009HouseAdded Co-Sponsor Rep. Linda Chapa LaVia 2/11/2009HouseAdded Co-Sponsor Rep. Emily McAsey 2/11/2009HouseAdded Co-Sponsor Rep. Dan Reitz 2/18/2009HouseAdded Co-Sponsor Rep. Careen M. Gordon 2/19/2009HouseAdded Co-Sponsor Rep. Cynthia Soto 2/19/2009HouseAdded Co-Sponsor Rep. William Davis 2/19/2009HouseAdded Co-Sponsor Rep. André M. Thapedi 2/19/2009HouseAdded Co-Sponsor Rep. Marlow H. Colvin 2/20/2009HouseAdded Co-Sponsor Rep. Edward J. Acevedo 2/20/2009HouseAdded Co-Sponsor Rep. Elizabeth Hernandez 2/26/2009HouseAdded Chief Co-Sponsor Rep. Arthur L. Turner 2/26/2009HouseAdded Co-Sponsor Rep. John D'Amico 3/13/2009HouseRule 19(a) / Re-referred to Rules Committee 1/27/2010HouseAssigned to Revenue & Finance Committee 2/17/2010HouseMotion Filed - Table Bill/Resolution Pursuant to Rule 60(b), Rep. Patrick J. Verschoore 2/23/2010HouseMotion Prevailed 2/23/2010HouseTabled By Sponsor Rep. Patrick J. Verschoore