IL SB3157

Creates an income tax credit for qualified teachers equal to 50% of tuition costs incurred at Illinois public universities, available for taxable years ending December 31, 2018 and later.

Limits annual credit usage to no more than 20% of the teacher's total aggregate credit amount per taxable year.

Defines "qualified teacher" as an individual who graduated from an Illinois public university, is currently employed as a teacher in Illinois, and has worked as a teacher in the state for at least 5 consecutive years as of the first day of the taxable year.

Allows excess credits that exceed tax liability to be carried forward and applied to the next 5 taxable years, with earlier credits applied first.

Takes effect upon becoming law with no sunset provision.