News from Senator Peter Roskam Senate Republican Whip
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	For Immediate Release
	Date  Jan. 28, 2005/tia

Roskam bill would double education tax credit

Springfield, IL – Senator Peter Roskam (R-Wheaton) this week filed legislation increasing the education tax credit in an effort to help Illinois families offset certain educational costs.

“I think it is important for parents to be involved in their children’s education and they should have the ability, regardless of their income, to choose the schools that best fit the education needs of their children,” Roskam said. “This is what the education tax credit is all about and why we should expand it.”

The legislation (SB 85) doubles the education expense credit. The current credit is $500 per family. Senate Bill 85 would raise the maximum to $1,000. The education credit was originally authorized in 1999 for tax years beginning in 2000

The education credit is available to all qualified parents or guardians as a means of offsetting the cost of books, lab fees, and tuition for students in grades K-12. To qualify for the full $1,000 credit allowance, a family would have to spend $4,250 in educational expenses per year. To qualify for the current $500 maximum, families would have to spend $2,250 on education expenses.

Senate Bill 85 has been filed and awaits assignment to Senate Committee for a public hearing.

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