HB 347 Summary

• Creates a school choice tax credit fund with mandatory annual appropriations of at least $30 million, effective for taxable years beginning January 1, 2024.

• Provides refundable tax credits for taxpayers with qualifying school-age children (ages 6-18) who attend private school or homeschool instead of Idaho public schools: $1,300 for the first child, $900 for the second, $500 for the third, and $200 for each additional child.

• Limits credit eligibility to full-time Idaho residents with adjusted gross income under $250,000, with no proportional credit for part-year residents.

• Requires taxpayers to attach a sworn statement to their tax return and meet federal dependent exemption requirements; allows use of receipts for educational expenses as audit documentation.

• Prevents duplicate credits for the same child and establishes custody rules, allowing noncustodial parents to claim the credit only with a court order or written declaration from the custodial parent.