Establishes Invest in Illinois Higher Education Program and tax credit for donations to the fund.
The bill creates the Invest in Illinois Higher Education Program, administered by the State Treasurer, to expand access to higher education through scholarships. It establishes the Invest in Illinois Higher Education Fund to receive donations and awards scholarships to eligible students. The bill also creates an income tax credit for taxpayers who donate to the fund, equal to the amount of their donation. The credit can be carried forward for up to five years.
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