104th General Assembly
SB 1993
INC Tx-able accounts
INC TX-Able Accounts
In Committee
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
Amends the Illinois Income Tax Act. Creates an income tax credit for contributions to an ABLE account. Provides that the credit shall be in an amount equal to 25% of that matching contribution, but not to exceed $500 per contributing employee per taxable year. Effective immediately.
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