Bill Text: IL SB0194 | 2025-2026 | 104th General Assembly | Introduced
Bill Title: Amends the Illinois Income Tax Act. Creates the Illinois Graduate and Retain Our Workforce (iGROW) Tech Scholarship Fund checkoff. Provides that, through the checkoff, taxpayers may contribute to the Illinois Graduate and Retain Our Workforce (iGROW) Tech Scholarship Fund. Amends the State Finance Act to create the Illinois Graduate and Retain Our Workforce (iGROW) Tech Scholarship Fund. Provides that moneys in the Fund shall be used by the Illinois Student Assistance Commission for the purpose of awarding iGROW Tech scholarships. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2025-01-28 - Assigned to Revenue [SB0194 Detail]
Download: Illinois-2025-SB0194-Introduced.html
| ||||||||||||||||||||||||
| ||||||||||||||||||||||||
| ||||||||||||||||||||||||
| 1 | AN ACT concerning revenue.
| |||||||||||||||||||||||
| 2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||||||
| 3 | represented in the General Assembly:
| |||||||||||||||||||||||
| 4 | Section 5. The State Finance Act is amended by adding | |||||||||||||||||||||||
| 5 | Sections 5.1030 and 6z-144 as follows:
| |||||||||||||||||||||||
| 6 | (30 ILCS 105/5.1030 new) | |||||||||||||||||||||||
| 7 | Sec. 5.1030. The Illinois Graduate and Retain Our | |||||||||||||||||||||||
| 8 | Workforce (iGROW) Tech Scholarship Fund.
| |||||||||||||||||||||||
| 9 | (30 ILCS 105/6z-144 new) | |||||||||||||||||||||||
| 10 | Sec. 6z-144. The Illinois Graduate and Retain Our | |||||||||||||||||||||||
| 11 | Workforce (iGROW) Tech Scholarship Checkoff Fund; creation. | |||||||||||||||||||||||
| 12 | The Illinois Graduate and Retain Our Workforce (iGROW) Tech | |||||||||||||||||||||||
| 13 | Scholarship Checkoff Fund is hereby created as a special fund | |||||||||||||||||||||||
| 14 | in the State treasury. Subject to the appropriation of new | |||||||||||||||||||||||
| 15 | moneys made available from the income tax checkoff created | |||||||||||||||||||||||
| 16 | under Section 507MMM of the Illinois Income Tax Act, moneys in | |||||||||||||||||||||||
| 17 | the Fund shall be used by the Illinois Student Assistance | |||||||||||||||||||||||
| 18 | Commission for the purpose of awarding scholarships pursuant | |||||||||||||||||||||||
| 19 | to Section 65.120 of the Higher Education Student Assistance | |||||||||||||||||||||||
| 20 | Act.
| |||||||||||||||||||||||
| 21 | Section 10. The Illinois Income Tax Act is amended by | |||||||||||||||||||||||
| |||||||
| |||||||
| 1 | adding Section 507MMM as follows:
| ||||||
| 2 | (35 ILCS 5/507MMM new) | ||||||
| 3 | Sec. 507MMM. Illinois Graduate and Retain Our Workforce | ||||||
| 4 | (iGROW) Tech Scholarship Fund checkoff. For taxable years | ||||||
| 5 | ending on or after December 31, 2025, the Department must | ||||||
| 6 | print on its standard individual income tax form a provision | ||||||
| 7 | (i) indicating that if the taxpayer wishes to contribute to | ||||||
| 8 | Illinois Graduate and Retain Our Workforce (iGROW) Tech | ||||||
| 9 | Scholarship Fund checkoff, as authorized by this amendatory | ||||||
| 10 | Act of the 104th General Assembly, he or she may do so by | ||||||
| 11 | stating the amount of the contribution (not less than $1) on | ||||||
| 12 | the return and (ii) stating that the contribution will reduce | ||||||
| 13 | the taxpayer's refund or increase the amount of payment to | ||||||
| 14 | accompany the return. Failure to remit any amount of increased | ||||||
| 15 | payment shall reduce the contribution accordingly. This | ||||||
| 16 | Section does not apply to any amended return.
| ||||||
