State Representative Michael J. Coffey, Jr. | https://www.facebook.com/RepCoffey
State Representative Michael J. Coffey, Jr. | https://www.facebook.com/RepCoffey
According to the Illinois General Assembly site, the legislature summarized the bill's official text as follows: "Creates the Reinvest in Future Technical Careers Act. Provides that the Department of Revenue shall award income tax credits to taxpayers who make authorized contributions to scholarship granting organizations for the purpose of awarding scholarships to eligible students who attend technical academies. Sets forth limitations with respect to the aggregate amount of credits awarded by the Department of Revenue under the program in a calendar year and the amount of credits awarded to an individual taxpayer. Amends the Illinois Income Tax Act to make conforming changes."
The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.
In essence, the bill establishes the Reinvest in Future Technical Careers Act, stipulating that the Illinois Department of Revenue will grant income tax credits to taxpayers who make authorized contributions to scholarship organizations, which then provide scholarships to eligible students attending technical academies. Eligibility for scholarships is limited to students from households earning up to 300% of the federal poverty level initially and up to 400% thereafter. The Act also lays out requirements for scholarship granting organizations, highlighting their role in using 95% of contributions for scholarships. Tax credits, available from Jan. 1, 2026, through Dec. 31, 2037, will equal 75% of the taxpayer's contribution, with an annual limit of $25 million in total credits. The Act includes provisions for technical academies, credit issuance procedures, and requirements for maintaining records and reporting to the State. It is scheduled for repeal on Jan. 1, 2038.
Coffey graduated from the University of Illinois at Urbana-Champaign with a BS.
Michael J Coffey Jr. is currently serving in the Illinois State House, representing the state's 95th House District. He replaced previous state representative Tim Butler in 2023.
Bills in Illinois follow a multi-step legislative process, beginning with introduction in either the House or Senate, followed by committee review, floor debates, and votes in both chambers before reaching the governor for approval or veto. The General Assembly operates on a biennial schedule, and while typically thousands of bills are introduced each session, only a fraction successfully pass through the process to become law.
You can read more about bills and other measures here.
| Bill Number | Date Introduced | Short Description |
|---|---|---|
| HB1729 | 01/24/2025 | Creates the Reinvest in Future Technical Careers Act. Provides that the Department of Revenue shall award income tax credits to taxpayers who make authorized contributions to scholarship granting organizations for the purpose of awarding scholarships to eligible students who attend technical academies. Sets forth limitations with respect to the aggregate amount of credits awarded by the Department of Revenue under the program in a calendar year and the amount of credits awarded to an individual taxpayer. Amends the Illinois Income Tax Act to make conforming changes. |
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