This bill aims to establish a new Idaho Parental Choice Tax Credit by repealing the existing Section 63-3029N and introducing a new version that outlines the eligibility criteria, definitions, and provisions for the tax credit. The new tax credit will allow parents of eligible students to claim a refundable tax credit of up to $5,000 per student for qualified educational expenses incurred during the tax year, with specific provisions for students with disabilities. The bill also details the application process, including the requirement for parents to submit a satisfaction and engagement survey regarding the nonpublic school attended by their child.

Additionally, the bill amends the Idaho Parental Choice Tax Credit Advance Payment Fund, establishing a new section that outlines the fund's administration and the sources of its revenue. Notably, it includes a provision for the transfer of unobligated cash balances in the fund to the general fund by July 1, 2027. The effective dates for the various sections of the bill are staggered, with some provisions taking effect on January 1, 2027, and others on January 1, 2028.

Statutes affected:
Bill Text: 63-3029N, 67-1230