Loading chat...
IL SB3897
Bill
Status
1/13/2021
Primary Sponsor
Cristina Castro
Click for details
AI Summary
-
Ends the Invest in Kids Act tax credit for taxpayers effective January 1, 2021 (moved up from January 1, 2023).
-
Repeals the entire Invest in Kids Act on January 1, 2022 (moved up from January 1, 2024).
-
Requires the State Comptroller and Treasurer to transfer funds from the General Revenue Fund to the Common School Fund for State fiscal years 2022-2025, equal to the amount of credits granted under the Invest in Kids Act in State fiscal year 2019.
-
Modifies scholarship granting organization requirements to limit scholarship distribution requirements through the 2020-2021 school year (ending the prior requirement for the 2022-2023 school year).
Legislative Description
INVEST IN KIDS-REPEAL
Last Action
Session Sine Die
1/13/2021