House Bill 1846
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DIGEST OF INTRODUCED BILL
Education tax credit pilot program. Provides an adjusted gross income tax refundable credit for the 2004 and 2005 taxable years for qualified elementary and secondary education expenses for dependents who have legal settlement in the Indianapolis public school corporation. Requires participation in the ISTEP or another approved program for tax credit eligibility. Provides that a taxpayer having dependents in both public and nonpublic schools may claim only one credit. For taxpayers having dependents enrolled in a school, establishes the maximum credit for household incomes under $35,000 at $2,000 and for household incomes over $35,000 at $1,000. For taxpayers having dependents who are excused from school attendance, establishes the maximum credit at $1,000 per dependent or household. Requires the department of education to develop a list of programs approved for tax credit purposes and to administer the ISTEP program requirement to certain dependents.
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