The proposed bill establishes the Idaho Education Opportunity Program (IEOP) under a new Chapter 68 in Title 33 of the Idaho Code, aimed at providing financial assistance to qualifying students for various educational expenses, including private school tuition, textbooks, and educational therapies. It creates the Idaho Education Opportunity Program Fund, which will be managed by the state department of education and funded through legislative appropriations, donations, and interest. The bill outlines eligibility criteria, funding procedures, and the administration of student accounts, ensuring that financial support is allocated based on household income levels. Additionally, it emphasizes the importance of academic progress, requiring evidence of grade-level achievement for continued funding.

Furthermore, the bill amends Chapter 30 of Title 63 to introduce a new section allowing for an income tax deduction for private school tuition, effective January 1, 2026. This section defines a "qualified dependent child" and includes stipulations regarding residency and custody for tax purposes. It also allows students aged 18 or older to apply for an extension of up to four years to use remaining funds under certain circumstances. The state department of education is granted the authority to conduct audits and enforce compliance, while ensuring that no government agency can control nonpublic schools or homeschooling. The bill emphasizes the severability of its provisions, ensuring that if any part is invalidated, the remaining sections will still be enforceable.