Bill No. SB3897
Bill ID
1343511
State
IL
Title
INVEST IN KIDS-REPEAL
Description
Amends the Invest in Kids Act and the Illinois Income Tax Act. Provides that a taxpayer may not take a credit pursuant to the Invest in Kids Act for tax years beginning on or after January 1, 2021 (currently January 1, 2023). Provides that the Invest in Kids Act is repealed on January 1, 2022. Amends the School Code. Provides that, for State fiscal years 2022 through 2025, an amount shall be transferred from the General Revenue Fund to the Common School Fund equal to the amount of credits granted under the Invest in Kids Act in State fiscal year 2019.
Bill Type
Bill
Category
Narrow or Eliminate Program
Session
101st General Assembly
Special Session
No Data Available
Current Status
Failed
Status Last Updated
2021-01-13
Pending Committee
Calendar
No data available
Sponsors
Texts
Votes
No data available
Amendments
No data available
Supplements
No data available