Bill Status of SB3897 101st General Assembly
Short Description: INVEST IN KIDS-REPEAL
Sen. Cristina Castro
| 1/13/2021||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
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 Provides that the Invest in Kids Act is repealed on January 1, 2022.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.
|Date||Chamber|| Action|| 2/19/2020||Senate||Filed with Secretary by Sen. Cristina Castro|| 2/19/2020||Senate||First Reading|| 2/19/2020||Senate||Referred to Assignments|| 1/13/2021||Senate||Session Sine Die|