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<xml>
<title>Illinois General Assembly - Bill Status for HB 3677   </title>
<shortdesc>COLLEGE SAVINGS PROGRAMS</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Robert Rita</sponsors>
</sponsor>
<lastaction>
<statusdate>1/9/2007</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>15 ILCS 505/16.5</reference><aliasreference></aliasreference><reference>35 ILCS 5/203</reference><aliasreference>from Ch. 120, par. 2-203</aliasreference><SynopsisText>     Amends the Illinois Income Tax Act. Removes a provision that requires a taxpayer to add to federal adjusted gross income, to arrive at base income for Illinois income tax purposes, distributions from a qualified tuition program under Section 529 of the Internal Revenue Code other than distributions from the College Savings Pool or the Illinois Prepaid Tuition Program to the extent those distributions were excluded from income in arriving at federal adjusted gross income. Amends the State Treasurer Act and further amends the Illinois Income Tax Act to allow an income tax deduction for moneys contributed in the taxable year to the College Savings Pool, the Illinois Prepaid Tuition Program, or to any other qualified tuition program under Section 529 of the Internal Revenue Code (now, a $10,000 maximum deduction is limited to contributions to the College Savings Pool or the Illinois Prepaid Tuition Program). Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>2/24/2005</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Robert Rita</action>
<statusdate>2/24/2005</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/24/2005</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>3/1/2005</statusdate><chamber>House</chamber><action>Assigned to Executive Committee</action>
<statusdate>3/10/2005</statusdate><chamber>House</chamber><action>Rule 19(a) / Re-referred to Rules Committee</action>
<statusdate>1/9/2007</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

