HB845

Montana HB845 increases the income tax deduction for contributions to a family education savings account to $4,500 for tax year 2025.

Montana HB845 amends the state's income tax deduction for contributions to a family education savings account, raising the limit to $4,500 for tax year 2025. The bill also provides for inflationary increases in the deduction amount for subsequent tax years, calculated based on the consumer price index. The changes apply retroactively to tax years beginning after December 31, 2024, and take effect immediately upon passage and approval.