Bill > HB3821

This bill amends the Illinois Income Tax Act to increase the maximum amount of the education expense credit for tax years ending on or after December 31, 2025. Specifically, the bill raises the existing credit cap from $750 to $1,500. The education expense credit is available to taxpayers who are custodians of qualifying pupils (Illinois residents under 21 years old enrolled in kindergarten through 12th grade) and allows a credit equal to 25% of qualified education expenses incurred on behalf of these pupils, such as tuition, book fees, and lab fees. The credit is subject to income limitations, with taxpayers whose adjusted gross income exceeds $500,000 (for joint filers) or $250,000 (for other taxpayers) being ineligible to claim the credit. The bill aims to provide additional financial support to families for educational expenses by increasing the maximum credit amount, effective immediately upon enactment.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3821&GAID=18&DocTypeID=HB&SessionID=114&GA=104