State of Illinois
91st General Assembly
Legislation

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91_HB1316

 
                                               LRB9104932PTpk

 1        AN  ACT  to  amend  the Illinois Income Tax Act by adding
 2    Section 211.

 3        Be it enacted by the People of  the  State  of  Illinois,
 4    represented in the General Assembly:

 5        Section  5.   The  Illinois  Income Tax Act is amended by
 6    adding Section 211 as follows:

 7        (35 ILCS 5/211 new)
 8        Sec. 211.  Tax credit for tuition and fees  paid  at  any
 9    public  or  private college, university, or community college
10    located in Illinois.  Beginning with taxable years ending  on
11    or  after  December  31,  1999  and ending with taxable years
12    ending on or before December 31, 2008,  a  taxpayer  with  an
13    adjusted  gross income of less than $100,000 is entitled to a
14    credit against the tax imposed under this Act  in  an  amount
15    not  to exceed $500 for amounts spent during the taxable year
16    for the tuition and fees of the taxpayer and any dependent of
17    the taxpayer engaged in full-time or part-time  undergraduate
18    studies  at  any  public  or  private college, university, or
19    community college located in Illinois.  This credit shall not
20    be  available  to  individuals  whose  tuition  or  fees  are
21    reimbursed by their employers.  In no event  shall  a  credit
22    under this Section reduce the taxpayer's liability under this
23    Act to less than zero.

24        Section  99.  Effective date.  This Act takes effect upon
25    becoming law.

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