<?xml version='1.0' encoding='ISO-8859-1'?>
<xml>
<title>Illinois General Assembly - Bill Status for HB 5310         </title>
<shortdesc>INC TX-529 CONVERSION</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Abdelnasser Rashid</sponsors>
</sponsor>
<lastaction>
<statusdate>1/7/2025</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/203</reference><aliasreference></aliasreference><SynopsisText>     Amends the Illinois Income Tax Act. Creates a deduction for amounts that are included in the taxpayer's federal adjusted gross income for the taxable year that are attributable to the conversion of funds from a qualified tuition program established pursuant to Section 529 of the Internal Revenue Code to a Roth IRA. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>2/9/2024</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Abdelnasser Rashid</action>
<statusdate>2/9/2024</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/9/2024</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>1/7/2025</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

