Illinois General Assembly - Bill Status for SB2718

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who are employed as an early childhood teacher or an early childhood assistant during the taxable year and who have a federal adjusted gross income for the taxable year of $75,000 or less. Provides that, for taxable years beginning on January 1, 2025 and beginning before January 1, 2026, the amount of the credit is $1,000. Provides that, for subsequent taxable years, the credit amount shall be adjusted by the percentage increase, if any, in the Consumer Price Index for the preceding calendar year.

Actions

Date	Chamber	Action
1/10/2024	Senate	Filed with Secretary by Sen. Sue Rezin
1/10/2024	Senate	First Reading
1/10/2024	Senate	Referred to Assignments
3/12/2024	Senate	Assigned to Revenue
3/15/2024	Senate	Rule 2-10 Committee Deadline Established As April 5, 2024
4/5/2024	Senate	Rule 2-10 Committee Deadline Established As May 3, 2024

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