Illinois State Senate District 28 issued the following announcement on March 5.
Illinois college students and their families would be eligible to receive a tax credit of up to $2,000 for tuition and fee expenses under legislation sponsored by State Senator Laura Murphy (D-Des Plaines).
“For a working family, the cost of college can really add up,” said Murphy. “This tax credit is a way for us to give a little relief to the students who choose to pursue an education at one of the exceptional institutions Illinois has to offer.”
Couples making less than $250,000 and single taxpayers making less than $125,000 who claim one or more qualifying students as dependents would be eligible for the tax credit.
Qualifying students must be Illinois residents under the age of 24 who are currently enrolled at an accredited public or private university, community college, vocational school or other post-secondary educational institution located in the state of Illinois.
Murphy says this bill is part of a package of legislation aimed at fighting rising tuition costs and encouraging students to remain in the state to pursue higher education.
“We make investments in our kids from kindergarten through high school, but we watch those investments walk out the door when students choose to continue their education outside of the state,” said Murphy. “I hope this tax credit will encourage Illinois talent to stay in Illinois.”
Original source can be found here.
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