Synopsis As Introduced Amends the Illinois Income Tax Act. Provides that the credit for student assistance contributions sunsets on December 30, 2025 (instead of December 30, 2020). Provides that the credit for student-assistance contributions may not exceed $1,000 (currently, $500) per contributing employee per taxable year.
House Floor Amendment No. 1 Provides that the increase in the credit for student-assistance contributions applies for taxable years ending on or after December 31, 2016.