SB1813 amends the Illinois Income Tax Act to modify the education expense credit for qualifying pupils.
SB1813 amends the Illinois Income Tax Act to adjust the education expense credit for qualifying pupils. The credit is set at 50% of qualified education expenses for tax years ending after December 31, 1999. For tax years ending on or after December 31, 2025, the credit is capped at $2,000 per child, with a maximum of $6,000 per family. The bill also includes provisions for the carryforward of unused credits and defines terms such as "qualified education expense" and "custodian.
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