How SB 1313 changes current law

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill creates new income tax deductions for employer-provided educational assistance and for taxpayer-paid assistance to employees, both capped at $5,250.

• 35 ILCS 5/203

  The adjustments to base income shall include a deduction for amounts paid by the taxpayer's employer on behalf of the taxpayer as part of an educational assistance program and for amounts paid by the taxpayer on behalf of an employee of the taxpayer as part of an educational assistance program, limited to the first $5,250 of such assistance.

  This adds new deductions for educational assistance payments to the income tax regulations.