Introduced House Bill (H)

Authored by

DIGEST

Indiana education savings account program. 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 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 that money contributed to a college choice 529 education savings plan as a qualified expense from the program is not considered a Indiana education savings account program. 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 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 that money contributed to a college choice 529 education savings plan as a qualified expense from the program is not considered a contribution for purposes of calculating the college choice 529 education savings plan income tax credit. 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. ... View more