IL HB0143

Creates a tax checkoff on Illinois individual income tax forms starting with tax year 2015 allowing taxpayers to contribute a minimum of $1 to the Illinois DREAM Fund.

Contributions reduce the taxpayer's refund or increase the amount of payment owed; failure to remit increased payment reduces the contribution accordingly.

Amends the Higher Education Student Assistance Act to authorize the Illinois DREAM Fund to receive moneys from the tax checkoff in addition to private contributions.

The Illinois DREAM Fund provides scholarships to students who are children of immigrants and meet residency, graduation, and enrollment duration requirements in Illinois.

Takes effect immediately upon becoming law.