Bill Title: Amends the Illinois Income Tax Act. Creates a deduction for any amount included in the taxpayer's federal adjusted gross income as a result of discharge of student loan indebtedness. Creates an income tax credit for qualified higher education expenses incurred during the taxable year by or on behalf of a qualifying public university student or community college student. Creates an income tax credit for qualified higher education expenses incurred during the taxable year by the parent or guardian of a qualified apprentice, trade, or vocational student. Effective immediately.

Spectrum: Bipartisan Bill

Status: (Introduced) 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee [HB5210 Detail]

Text: Latest bill text (Introduced) [HTML]

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