Bill > SB1813

This bill amends the Illinois Income Tax Act to modify the education expense tax credit for families with school-age children. For tax years ending on or after December 31, 2025, the bill increases the education expense credit from 25% to 50% of qualified education expenses. The maximum credit will be $2,000 per qualifying pupil, with a total family maximum of $6,000 per taxable year. The bill also introduces a new income restriction, limiting the credit to taxpayers whose adjusted gross income is at or below 400% of the federal poverty level. Qualified education expenses are expanded to include not just tuition and school fees, but also expenses related to tutoring, exam preparation, AP/IB/SAT/ACT exams, and out-of-school academic enrichment activities. The credit applies to Illinois residents with children under 21 who are enrolled in kindergarten through 12th grade at public or non-public schools in Illinois. The bill aims to provide more financial support for families with educational expenses while targeting the credit to lower and middle-income households.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1813&GAID=18&DocTypeID=SB&SessionID=114&GA=104