Date	Chamber	Action
1/8/2013	House	Session Sine Die

Statutes Amended In Order of Appearance

15 ILCS 505/17.10 new

35 ILCS 5/203

from Ch. 120, par. 2-203

Synopsis As Introduced
Amends the State Treasurer Act. Authorizes the State Treasurer to establish and administer a Home Savings Pool to supplement and enhance investment opportunities otherwise available to first-time homebuyers. Provides that participants in the Pool are required to use moneys distributed from the Pool for qualified expenditures incident to the purchase of a primary residence by a first-time homebuyer. Contains penalty provisions. Sets forth the duties of the State Treasurer with respect to the Home Savings Pool. Amends the Illinois Income Tax Act. Creates a deduction for individual taxpayers equal to the amount contributed by the taxpayer to a Home Savings Pool account during the taxable year, but not to exceed $20,000 per taxable year. Effective immediately.

Actions 

Date	Chamber	Action
2/1/2012	House	Filed with the Clerk by Rep. Darlene J. Senger
2/1/2012	House	First Reading
2/1/2012	House	Referred to Rules Committee
1/8/2013	House	Session Sine Die

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