House Bill 1675
Introduced House Bill (H)
DIGEST
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
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.
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