AN ACT TO AUTHORIZE AN INCOME TAX CREDIT FOR ELIGIBLE EDUCATIONAL EXPENSES PAID BY A PARENT OR LEGAL GUARDIAN ON BEHALF OF A DEPENDENT K-12 STUDENT; TO SPECIFY A MAXIMUM AMOUNT OF THE CREDIT PER STUDENT; TO PROVIDE THAT ANY UNUSED PORTION OF THE CREDIT MAY BE CARRIED FORWARD FOR THE FIVE SUCCEEDING TAX YEARS; TO PROVIDE THAT THE AMOUNT OF THE CREDIT THAT MAY BE UTILIZED IN ANY TAX YEAR SHALL NOT EXCEED THE TOTAL STATE INCOME TAX LIABILITY OF THE TAXPAYER FOR THAT YEAR; TO PROVIDE THAT THE AGGREGATE AMOUNT OF TAX CREDITS THAT MAY BE AWARDED UNDER THIS SECTION IN ANY CALENDAR YEAR SHALL NOT EXCEED $20,000,000.00; TO PRESCRIBE THE CONTENT REQUIRED IN THE APPLICATION FOR THE CREDIT; TO PROVIDE THAT THE DEPARTMENT SHALL ESTABLISH A LOTTERY SYSTEM FOR SELECTING TAXPAYERS TO BE AWARDED THE CREDIT; TO AUTHORIZE THE DEPARTMENT OF REVENUE TO PROMULGATE REGULATIONS AS NEEDED TO ADMINISTER THIS ACT; TO SPECIFY THAT THIS ACT CREATES A PILOT PROGRAM AND THAT NO CREDITS SHALL BE AUTHORIZED UNDER THIS ACT FOR ELIGIBLE EXPENSES INCURRED IN ANY CALENDAR YEAR OTHER THAN 2026; AND FOR RELATED PURPOSES.