HF706

Modifies K-12 education expense subtraction and credit, extends credit to tuition, increases amounts, and adjusts for inflation.

Advances the clean energy transition by modifying the K-12 education expense subtraction and credit. Extends the credit to tuition, increases the subtraction and credit amounts, and raises the income phaseout for the credit. Adjusts the credit and subtraction amounts and credit phaseout thresholds for inflation. Effective for taxable years beginning after December 31, 2025.