Bill Status of HB 5615   103rd General Assembly


Short Description:  STATE TREAS-EDU SCHOLAR ACCT

House Sponsors
Rep. Tim Ozinga

Last Action  View All Actions

DateChamber Action
  2/9/2024HouseReferred to Rules Committee

Statutes Amended In Order of Appearance
15 ILCS 505/16.11 new

Synopsis As Introduced
Amends the State Treasurer Act. Provides that the State Treasurer may establish and administer the Education Scholarship Account as a qualified tuition program under Section 529 of the Internal Revenue Code. Provides that distributions from an account in the Education Scholarship Account may be used for the designated beneficiary's qualified expenses; defines "qualified expenses". Provides who may open an account under the Program. Provides that the Treasurer and the State Board of Education shall each cooperate in providing each other with account information, as necessary, to prevent contributions in excess of those necessary to provide for the qualified expenses of the designated beneficiary. Sets forth provisions concerning funds for the Program. Sets forth provisions concerning investment policies for the Account. Provides that the Treasurer shall work with the State Board of Education to coordinate the marketing of the Education Scholarship Account. Sets forth other provisions concerning administering the Education Scholarship Account Program. Provides for rulemaking.

Actions 
DateChamber Action
  2/9/2024HouseFiled with the Clerk by Rep. Tim Ozinga
  2/9/2024HouseFirst Reading
  2/9/2024HouseReferred to Rules Committee

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