Illinois § 7-30 Limits on covered income

Illinois Statutes

§ 7-30 — Limits on covered income

Illinois § 7-30

JurisdictionIllinois

TopicEDUCATION

Ch. 110HIGHER EDUCATION

Act 110 ILCS 992/Student Loan Servicing Rights Act.

Art.Article 7 - Educational Income Share Agreements

This text of Illinois § 7-30 (Limits on covered income) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

110 Ill. Comp. Stat. 7-30 (2026).

Text

An EISA must specify the definition of income to be used for the purposes of calculating a consumer's payment obligation under the EISA. No EISA shall include any of the following in its definition of income:

(1)the income of the consumer's spouse, children, or dependents or a party to a civil union with the consumer under the Illinois Religious Freedom and Civil Union Act; or (2) any amount paid by the consumer under Title II or XVI of the Social Security Act, 42 U.S.C. 401 et seq. or 42 U.S.C. 1381 et seq., or under a State program funded by Title IV of the Social Security Act, 42 U.S.C. 601 et seq;

(3)individual retirement account distributions;

(4)pensions and annuities;

(5)social security benefits;

(6)any sources of government aid provided to individuals, including, but not limit

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An EISA must specify the definition of income to be used for the purposes of calculating a consumer's payment obligation under the EISA. No EISA shall include any of the following in its definition of income: (1) the income of the consumer's spouse, children, or dependents or a party to a civil union with the consumer under the Illinois Religious Freedom and Civil Union Act; or (2) any amount paid by the consumer under Title II or XVI of the Social Security Act, 42 U.S.C. 401 et seq. or 42 U.S.C. 1381 et seq., or under a State program funded by Title IV of the Social Security Act, 42 U.S.C. 601 et seq; (3) individual retirement account distributions; (4) pensions and annuities; (5) social security benefits; (6) any sources of government aid provided to individuals, including, but not limited to: (A) unemployment programs; (B) disaster relief programs; (C) Medicare or Medicaid benefits; (D) benefits received through the Supplemental Nutrition Assistance Program; (E) economic impact payments; (F) the earned income tax credit or child tax credit; (G) other income excluded from the definition of taxable income set forth by the Internal Revenue Service; or (H) passive income that is not derived as a result of a consumer's active participation in any trade or business.