This bill establishes the Idaho Parental Choice Tax Credit, allowing parents with a taxable income not exceeding 300% of the federal poverty level to request an advance payment of the tax credit to cover qualified educational expenses for their children. The credit is designed to support parents in choosing educational services that meet their children's needs, affirming their fundamental right to direct their children's education. The bill defines key terms such as "eligible student," "qualified expenses," and outlines the application process, including the requirement for parents to submit a satisfaction and engagement survey regarding the nonpublic school their child attended.

Additionally, the bill creates the Idaho Parental Choice Tax Credit Advance Payment Fund, which will be administered by the state tax commission and funded through legislative appropriations, donations, and interest earned. The total amount of tax credits authorized under this program is capped at $50 million per tax year, with provisions for prioritizing applications based on income and previous credit receipt. The bill also includes severability clauses and declares an emergency for its immediate implementation, retroactively effective from January 1, 2025.