Bill Status of SB2053 102nd General Assembly
Short Description: INCOME TAX-EDUCATION CREDIT
Sen. Omar Aquino - John Connor, Michael E. Hastings, Robert F. Martwick, Meg Loughran Cappel, Elgie R. Sims, Jr., Mattie Hunter, Celina Villanueva, Karina Villa, Christopher Belt and Laura Fine
| 1/10/2023||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that each qualified teacher is entitled to an income tax credit in an aggregate amount equal to 50% of the tuition costs incurred by that teacher at a public university in the State. Provides that each qualified teacher may take no more than 20% of his or her aggregate credit amount in any taxable year. Provides that the term "qualified teacher" means an individual who (i) graduated from a public university in the State, (ii) is employed as a teacher in this State during the taxable year, and (iii) has been employed as a teacher in the State for at least 5 consecutive years as of the first day of the taxable year. Effective immediately.