SB0072 would amend the Illinois Income Tax Act to create a new state income tax credit for college tuition expenses. A taxpayer who can claim a qualifying student as a dependent could claim a credit of up to $2,000 for qualified tuition and fee expenses paid during the taxable year. The credit would apply to taxable years ending on or after December 31, 2025, and any unused credit could be carried forward for up to five years.
The bill defines a qualifying student as an Illinois resident under age 24 who is enrolled full-time during the school year at a qualifying college or university in Illinois. A qualifying institution includes public or private universities, community colleges, vocational schools, and other postsecondary institutions physically located in Illinois that are eligible to participate in a U.S. Department of Education student loan program. The bill also limits eligibility by income, barring taxpayers with adjusted gross income above $250,000 for joint filers or $125,000 for other filers.
Impact
If enacted, SB0072 would add a new Section 246 to the Illinois Income Tax Act and reduce state income tax liability for eligible families paying in-state higher education costs. It would affect taxpayers claiming dependent students, Illinois colleges and universities, and the administration of the state income tax by creating a refundable? no, nonrefundable credit with a five-year carryforward. The bill also excludes higher-income taxpayers and specifies that the credit is exempt from Section 250 of the Act, which may affect how the credit interacts with other tax provisions.
Sentiment
No committee transcripts or recorded votes were provided, so there is no direct evidence of debate or formal support/opposition in the available materials. Based on the bill text alone, the measure appears to be framed as a targeted tax benefit for families with college students and as a higher-education affordability measure. The absence of voting history or discussion prevents a reliable assessment of legislative momentum or partisan sentiment.
Contention
The main policy questions likely concern the fiscal cost of the credit, whether the benefit should be limited to in-state institutions and younger dependent students, and whether the income caps are set appropriately. Another possible point of contention is the scope of eligible expenses, which includes tuition, book fees, and lab fees, but only for students enrolled full-time at qualifying Illinois institutions. Because no committee discussion is available, it is not possible to attribute specific objections or support to any legislator or stakeholder.