House Bill 4521 Summary

• Adds a new deduction for tax years beginning after December 31, 2016, equal to $600 multiplied by the number of exemptions claimed for dependent children under age 19 as of the last day of the tax year.

• Makes technical corrections to existing provisions regarding ABLE savings accounts and education savings programs, including clarifying language about qualified withdrawals and interest deductions.

• Adjusts terminology throughout the section from "husband and wife" to "spouses" for gender-neutral language consistency.

• Maintains all existing deductions and exemptions for retirement benefits, education savings, Holocaust victim assets, military service, and other qualifying income sources without modification to their amounts or eligibility requirements.