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IN HB1508
Bill
Status
1/16/2019
Primary Sponsor
Charles Moseley
Click for details
AI Summary
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Creates a new Indiana income tax credit for unreimbursed curricular materials expenses paid for dependents enrolled in public schools (kindergarten through grade 12)
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Credit amount equals the full amount of qualified expenditures for all eligible dependents, with married couples limited to one credit
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Credit is non-refundable and cannot be carried forward or back to other tax years
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Applies to taxable years beginning after December 31, 2019, with an effective date of July 1, 2019
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Eligible dependents must be natural, adopted, or court-appointed children who qualify as dependents under IRS Section 152
Legislative Description
Tax credit for public school book rental fees. Provides an income tax credit for an unreimbursed curricular materials expenditure made by a taxpayer for an eligible dependent who is enrolled in a public school. Provides that the credit amount is the amount of the taxpayer's qualified expenditures for all eligible dependents.
Last Action
First reading: referred to Committee on Ways and Means
1/16/2019