Idaho bill repeals and replaces the Idaho Parental Choice Tax Credit and the Idaho Parental Choice Tax Credit Advance Payment Fund.
The bill repeals the Idaho Parental Choice Tax Credit and the Idaho Parental Choice Tax Credit Advance Payment Fund, replacing them with new provisions. The new Idaho Parental Choice Tax Credit offers a refundable tax credit of up to $5,000 per eligible student for qualified expenses, including tuition, tutoring, and assessments. The credit is available to parents with a modified adjusted gross income not exceeding 300% of the federal poverty level. The Idaho Parental Choice Tax Credit Advance Payment Fund is reestablished to pay advance payments for qualified expenses.
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