summary
Introduced
02/04/2026
02/04/2026
In Committee
02/06/2026
02/06/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Specifies that the amendatory Act may be referred to as the Educational Choice for Illinois Children Act. Amends the School Code. Provides that the General Assembly elects, on behalf of the State, to: (1) participate in the federal tax credit established under the federal One Big Beautiful Bill Act for individuals who make qualified contributions to scholarship granting organizations; and (2) identify scholarship granting organizations located in this State. Authorizes and empowers the State Board of Education to certify and submit a list of qualifying scholarship granting organizations to the Secretary of the Treasury of the United States in accordance with the federal One Big Beautiful Bill Act and its associated regulations. Amends the Illinois Income Tax Act. Provides that provisions concerning a pass-through entity tax apply until January 1, 2030. Creates income tax deductions for qualified tips, overtime, and qualified vehicle loan interest. Creates an income tax deduction for qualified senior citizens. Provides that distributions from the College Savings Pool may be used for certain elementary and secondary school expenses. Makes changes concerning the bonus depreciation deduction under Section 168(k) of the Internal Revenue Code.
AI Summary
This bill, referred to as the Educational Choice for Illinois Children Act, aims to enhance educational options for Illinois families by allowing the state to participate in a federal tax credit program designed to fund scholarships for students. Specifically, it enables the General Assembly to opt into a federal tax credit established by the "One Big Beautiful Bill Act" for individuals who contribute to scholarship-granting organizations (SGOs). The State Board of Education is authorized to identify and certify qualifying SGOs located in Illinois and submit this list to the U.S. Secretary of the Treasury, thereby facilitating these federal tax credits for donors. Additionally, the bill makes several changes to the Illinois Income Tax Act, including extending provisions related to pass-through entity tax until January 1, 2030, and introducing new income tax deductions for qualified tips, overtime, and qualified vehicle loan interest, as well as a deduction for qualified senior citizens. It also expands the eligible expenses for distributions from the College Savings Pool to include certain elementary and secondary school costs and modifies rules concerning bonus depreciation deductions under federal tax law.
Sponsors (1)
Last Action
Referred to Rules Committee (on 02/06/2026)
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