This bill proposes to amend section 43-1042 of the Arizona Revised Statutes, specifically regarding individual income tax. If enacted, it would introduce new provisions allowing taxpayers to deduct certain educational expenses from their taxable income.

Specifically, for taxable years beginning after December 31, 2024, taxpayers would be permitted to deduct amounts paid for tuition to various postsecondary educational institutions and for student loan repayments. This addition aims to provide financial relief to individuals pursuing higher education and managing student debt, enhancing the current tax deduction framework without altering existing statutes.

Statutes affected:
Introduced Version: 43-1042