<?xml version='1.0' encoding='ISO-8859-1'?>
<xml>
<title>Illinois General Assembly - Bill Status for HB 5650         </title>
<shortdesc>STUDENT ASSISTANCE CREDITS</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Arthur Turner</sponsors>
</sponsor>
<lastaction>
<statusdate>12/3/2014</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/218</reference><aliasreference></aliasreference><SynopsisText>     Amends the Illinois Income Tax Act. Provides that each taxpayer who makes a contribution to a specified individual College Savings Pool Account or to the Illinois Prepaid Tuition Trust Fund in an amount matching a contribution made in the same taxable year by an employee of the taxpayer to that Account or Fund is entitled to a credit in an amount equal to 25% of that matching contribution, but not to exceed $800 (rather than $500) per contributing employee per taxable year. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>2/13/2014</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Arthur Turner</action>
<statusdate>2/14/2014</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/14/2014</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>12/3/2014</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

