91st General Assembly
Summary of HB0999
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Short description: 
INC TX-EDUCATION EXPENSE CR                                                

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act.  Provides that beginning with      
   tax years ending after December  31,  1998,  a  taxpayer  who  is  the      
   custodian  of  one or more qualified pupils shall be allowed an income      
   tax credit equal to 25% of  qualified  education  expenses.   Provides      
   that  the  credit  may  not  exceed $500.  Provides that any credit in      
   excess of the  tax  liability  shall  be  refunded  to  the  taxpayer.      
   Provides that the pupils must be (i) residents of Illinois, (ii) under      
   21  years  of age at the close of the school year for which the credit      
   is sought, and (iii) enrolled in a kindergarten through twelfth  grade      
   education  program  at any public or nonpublic elementary or secondary      
   school  that  meets  certain  standards.   Provides   that   qualified      
   education  expenses  are costs in excess of $250 incurred on behalf of      
   the pupil for tuition, book fees, and  lab  fees.  Provides  that  the      
   credit  is  available to the parent, parents, or legal guardian of the      
   pupil.  Exempts the credit from the sunset provisions.                      
          JUDICIAL NOTE (Administrative Office of Ill. Courts)                 
          There would be no increase or decrease in the number of judges       
          BALANCED BUDGET NOTE (Bureau of the Budget)                          
          The bill is not a supplemental appropriation; the Balanced           
          Budget Note Act is inapplicable.                                     
          STATE MANDATES NOTE (Dept. of Commerce and Community Affairs)        
          Does not create a State mandate.                                     
          FISCAL NOTE (Department of Revenue)                                  
          HB999 would have an estimated fiscal impact of $50 million to        
          $75 million.                                                         
        HOUSE AMENDMENT NO. 7.                                                 
        Provides that the tax credit  is  effective  beginning  with  tax      
   years  ending  on  or  after December 31, 2000 (now after December 31,      
   1998).  Deletes the  provision  refunding  an  excess  credit  to  the      
   taxpayer.    Provides  that  the  credit  may  not reduce a taxpayer's      
   liability to less than zero.                                                
        HOUSE AMENDMENT NO. 8.                                                 
          Adds reference to:                                                   
          New Act                                                              
        Creates the Fund Education First Act.  Beginning with fiscal year      
   2000, and in each fiscal year thereafter, provides that until the  sum      
   of  State  and federal spending for elementary and secondary education      
   for the fiscal year represents 50% of  the  total  revenues  that  the      
   State  Superintendent of Education estimates are available from local,      
   State, and federal sources for elementary and secondary education  for      
   that fiscal year, the amount appropriated by the General Assembly from      
   general  funds  for educational programs for that fiscal year shall be      
   at least equal to the sum of  (1)  51%  of  total  new  general  funds      
   available  for  spending from certain sources during that fiscal year,      
   excluding certain State contributions to teachers'  and  universities'      
   retirement  funds, plus (2) the total amount appropriated from general      
   funds for educational  programs  during  the  preceding  fiscal  year.      
   Requires  the Governor, beginning with fiscal year 2001, to include in      
   his annual budget an allocation for education  that  conforms  to  the      
   provisions of the Fund Education First Act.  Effective immediately.         
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   2     SENATE -   0


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