SB3611 Summary

• Creates income tax deductions for educational assistance program payments: employers can deduct amounts paid on behalf of employees, and employers can deduct amounts paid for employees' educational assistance, up to $5,250 per individual per year.

• Deductions apply to educational assistance programs as defined in Section 127 of the Internal Revenue Code, regardless of whether amounts are included in the employee's federal adjusted gross income.

• Effective for taxable years beginning on or after January 1, 2023.

• Deductions are exempt from Section 250 provisions of Illinois tax law.

• Takes effect January 1, 2023.