ID H0234

Allows a 50% income tax credit for charitable contributions to qualifying Idaho educational organizations, institutions of higher learning, and other approved nonprofits, with credit limits of $500 for individuals or 50% of tax liability (whichever is less) and $5,000 for corporations or 10% of tax liability (whichever is less).

Establishes an 80% tax credit for contributions to scholarship-granting organizations that provide scholarships to children living at or below 185% of federal poverty level, children with disabilities, at-risk youth, or military-connected children to attend private K-12 schools, with no per-taxpayer limits if approved by designated state board organization.

Caps excess scholarship credits at $15,000,000 statewide per calendar year, allocated on a first-come, first-served basis through a date-ordered roster maintained by the state tax commission, requiring taxpayers to provide proof of contribution within 60 days of confirmation.

Prohibits scholarship contributions from directly benefiting the donor or their family members within the second degree, and prevents donors from directing contributions to particular beneficiaries.

Makes Section 2 amendments effective January 1, 2020, while Section 1 takes effect immediately.