IllinoisSB2003104th General Assembly (2025–2026)Senate

INC TX-STUDENT LOAN REPAYMENT

Sponsored By: Meg Loughran Cappel (Democratic)

In Committee

Summary

Amends the Illinois Income Tax Act. Creates an income tax deduction for any amounts paid by the taxpayer's employer on behalf of the taxpayer as part of an educational assistance program. Creates an income tax deduction for any amounts paid by the taxpayer on behalf of an employee of the taxpayer as part of an educational assistance program. Provides that the deductions are limited to the first $5,250 of such assistance so furnished to any individual. Effective immediately.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Meg Loughran Cappel

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Rule 3-9(a) / Re-referred to Assignments

    6/2/2025Senate
  2. Rule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025

    5/23/2025Senate
  3. Rule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025

    5/9/2025Senate
  4. Rule 2-10 Committee Deadline Established As May 9, 2025

    4/11/2025Senate
  5. Rule 2-10 Committee Deadline Established As April 11, 2025

    3/21/2025Senate
  6. Assigned to Revenue

    2/25/2025Senate
  7. Referred to Assignments

    2/6/2025Senate
  8. First Reading

    2/6/2025Senate
  9. Filed with Secretary by Sen. Meg Loughran Cappel

    2/6/2025Senate

Bill Text

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