Date	Chamber	Action
8/16/2007	House	Public Act . . . . . . . . . 95-0217

Statutes Amended In Order of Appearance

110 ILCS 979/5

110 ILCS 979/45

Synopsis As Introduced
Amends the Illinois Prepaid Tuition Act. Provides that the intent of the Act is to both encourage and better enable Illinois families to help themselves finance the cost of higher education through a program that provides Illinois families with a method of State tax-free and federally tax-deferred, tax-exempt savings (instead of just tax-deferred savings) for higher education (instead of for college tuition). Removes a provision that provides that once a partial benefit of a prepaid tuition contract has been disbursed, any tax liability attributable to the contract and its assets becomes a tax liability of the qualified beneficiary, unless otherwise specified in the contract. Effective immediately.

House Amendment No. 1
Provides that the intent of the Illinois Prepaid Tuition Act is to both encourage and better enable Illinois families to help themselves finance the cost of higher education through a program that provides Illinois families with a method of State tax-free and federally tax-exempt savings (rather than federally tax-deferred, tax-exempt savings) for higher education.

Actions 

Date	Chamber	Action
2/22/2007	House	Filed with the Clerk by Rep. Daniel J. Burke
2/22/2007	House	First Reading
2/22/2007	House	Referred to Rules Committee
2/27/2007	House	Assigned to Higher Education Committee
3/7/2007	House	House Amendment No. 1 Filed with Clerk by Higher Education Committee
3/7/2007	House	House Amendment No. 1 Adopted in Higher Education Committee; 011-000-000
3/7/2007	House	Do Pass as Amended / Short Debate Higher Education Committee; 011-000-000
3/8/2007	House	Placed on Calendar 2nd Reading - Short Debate
3/13/2007	House	Second Reading - Short Debate
3/13/2007	House	Placed on Calendar Order of 3rd Reading - Short Debate
4/17/2007	House	Added Chief Co-Sponsor Rep. Robert W. Pritchard
4/17/2007	House	Added Chief Co-Sponsor Rep. Sandra M. Pihos
4/17/2007	House	Added Chief Co-Sponsor Rep. Mike Fortner
4/18/2007	House	Added Chief Co-Sponsor Rep. Mary E. Flowers
4/18/2007	House	Added Co-Sponsor Rep. Elga L. Jefferies
4/18/2007	House	Added Co-Sponsor Rep. Richard T. Bradley
4/18/2007	House	Added Co-Sponsor Rep. Kevin A. McCarthy
4/18/2007	House	Added Co-Sponsor Rep. Jack D. Franks
4/18/2007	House	Added Co-Sponsor Rep. Linda Chapa LaVia
4/18/2007	House	Added Co-Sponsor Rep. William B. Black
4/18/2007	House	Third Reading - Short Debate - Passed 116-000-000
4/19/2007	House	Added Co-Sponsor Rep. Shane Cultra
4/20/2007	Senate	Arrive in Senate
4/20/2007	Senate	Placed on Calendar Order of First Reading April 24, 2007
5/1/2007	Senate	Chief Senate Sponsor Sen. Frank C. Watson
5/1/2007	Senate	First Reading
5/1/2007	Senate	Referred to Rules
5/2/2007	Senate	Assigned to Revenue
5/10/2007	Senate	Do Pass Revenue; 008-000-000
5/10/2007	Senate	Placed on Calendar Order of 2nd Reading May 15, 2007
5/10/2007	Senate	Added as Alternate Chief Co-Sponsor Sen. Chris Lauzen
5/10/2007	Senate	Added as Alternate Co-Sponsor Sen. Matt Murphy
5/18/2007	Senate	Second Reading
5/18/2007	Senate	Placed on Calendar Order of 3rd Reading May 22, 2007
5/22/2007	Senate	Third Reading - Passed; 059-000-000
5/22/2007	House	Passed Both Houses
6/20/2007	House	Sent to the Governor
8/16/2007	House	Governor Approved
8/16/2007	House	Effective Date August 16, 2007
8/16/2007	House	Public Act . . . . . . . . . 95-0217

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