Bill No. HB1675
Bill ID
1169346
State
IN
Title
Establishes the Indiana education savings account program
Description
Education savings accounts. Establishes the Indiana education savings account program (program). Provides that a parent of an eligible student or an emancipated eligible student may establish an account in the program. Provides that an eligible student who has an account and attends a qualified school is eligible to receive an annual grant amount that may be used to pay for tuition at an accredited nonpublic school or education related expenses. Provides that the treasurer of state shall administer the program. Provides a deduction from Indiana adjusted gross income for a grant amount that is distributed to a taxpayer's Indiana education savings account and used for a qualified expense, to the extent the distribution is included in the taxpayer's federal adjusted gross income. Provides a tax deduction or tax credit for an individual taxpayer's contributions to an eligible student's program account. Provides a tax credit equal to 50% of a corporate taxpayer's contributions to: (1) an eligible student's program account; and (2) a nonprofit organization that exists primarily for the purpose of making contributions to program accounts.
Bill Type
Bill
Category
No Data Available
Session
2019 Regular Session
Special Session
No Data Available
Current Status
Introduced
Status Last Updated
2019-01-24
Pending Committee
Calendar
No data available
Sponsors
Texts
Votes
No data available
Amendments
No data available
Supplements
No data available