92nd General Assembly
Summary of HB5744
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House Sponsors:

Short description: 
INC TAX-COLLEGE SAVINGS POOL                                               

Synopsis of Bill as introduced:
        Amends the Illinois Income Tax Act. Provides for a deduction from      
   adjusted gross income, for taxable years beginning on or  after  March      
   1,  2000,  of an amount equal to any amount included in adjusted gross      
   income representing (i) any amount  held  in,  (ii)  earnings  on  any      
   amount  held  in,  or  (iii) disbursements from a College Savings Pool      
   account  established  under  the  State  Treasurer  Act,  so  long  as      
   disbursed amounts are used for qualified expenses as determined  under      
   the  State  Treasurer  Act.  Exempts  the  deduction  from  the sunset      
   provisions of the Act. Effective immediately.                               
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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