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ID H0416
Bill
Status
1/24/2014
Primary Sponsor
Mathew Erpelding
Click for details
AI Summary
House Bill 416 Summary
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Allows individuals to deduct 10% of principal payments on student loans during the taxable year, provided the loan is in the individual's name and the individual is a resident of Idaho employed in Idaho.
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Permits individuals to deduct tuition, expenses, and fees paid to public universities, colleges, community colleges, or professional-technical postsecondary institutions in Idaho for themselves or their dependents.
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Defines "tuition, expenses and fees" to include tuition, fees, books, room and board, and educational supplies directly related to the student's attendance at an eligible educational institution.
Legislative Description
Amends existing law to provide adjustments to taxable income for payments made on student loans and for payments of tuition, expenses and fees to certain postsecondary educational institutions in Idaho for the individual or a dependent.
TAXATION
Last Action
Reported Printed and Referred to Ways & Means
1/27/2014