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IL HJR0069
Joint Resolution
Status
5/27/2019
Primary Sponsor
Norine Hammond
Click for details
AI Summary
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Declares May 29, 2019 as "529 College Savings Day" in Illinois to raise awareness about college savings plans
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Illinois Treasurer administers two 529 plans: Bright Start College Savings Plan (Gold-rated by Morningstar in 2018) and Bright Directions College Savings Plan (Silver-rated)
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Illinois residents can claim state tax deductions on contributions up to $10,000 annually ($20,000 for married couples filing jointly) to any 529 plan
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Highlights rising college costs: Illinois public university tuition increased from $4,160 in 2000 to $15,182 in 2018; private university tuition rose from $15,625 to $36,747
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Notes that over 1.6 million Illinois residents hold more than $52 billion in student loan debt, and urges Illinoisans to explore 529 plan benefits to reduce future debt burdens
Legislative Description
529 COLLEGE SAVINGS DAY
Last Action
Referred to Assignments
5/28/2019