HB2422 allows Arizona taxpayers to deduct tuition and student loan repayments from their taxable income.
HB2422 amends the Arizona Revised Statutes to modify the individual income tax by allowing taxpayers to deduct tuition and student loan repayments. This change applies to tuition paid to public, nonprofit, or private colleges, universities, community colleges, or other postsecondary institutions, as well as student loan repayments. The bill specifies that these deductions are in addition to other allowable deductions and credits, subject to certain limitations.
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