Bill No. HB1533
Bill ID
1671518
State
IN
Title
Individual tax deductions and credits.
Description
Individual tax deductions and credits. Increases the amount from $1,000 to $1,500 per dependent child for purposes of the unreimbursed education expenditure tax deduction. Repeals the provision providing a tax credit for contributions to an ABLE account and replaces it with a provision with retroactive language that increases the credit to: (1) $750 for an individual filing a single return; and (2) $1,500 for a married couple filing a joint return. Provides a tax credit for contributions made to a public school foundation in an amount that may not exceed: (1) $750 for an individual filing a single return; and (2) $1,500 for a married couple filing a joint return. Provides that any combination of credits claimed under the ABLE account credit and the public school foundation credit may not exceed: (1) $750 for an individual filing a single return; and (2) $1,500 for a married couple filing a joint return.
Bill Type
Bill
Category
Change to Program, Individual Tax Credit or Benefit, Program Expansion
Session
2023 Regular Session
Special Session
No Data Available
Current Status
Introduced
Status Last Updated
2023-01-19
Pending Committee
Calendar
No data available
Sponsors
Texts
Votes
No data available
Amendments
No data available
Supplements
No data available