CA SB1437

Allows a deduction up to $750 per taxable year for contributions to Coverdell education savings accounts for taxable years beginning January 1, 2016 through December 31, 2020.

Permits a deduction up to $2,500 per taxable year for qualified education-related expenses (including educational equipment, computers, tutoring, special education services, and transportation) for dependent children in kindergarten through grade 12 attending California public or private schools.

Limits the education expenses deduction to taxpayers whose household income does not exceed 250 percent of the federal Income Eligibility Guidelines for reduced price school meals.

Both deductions sunset on December 1, 2021 and apply only to taxable years beginning on or after January 1, 2016 and before January 1, 2021.

Takes effect immediately as a tax levy measure.