Digest: The Act raises the cap on total tax credits allowed for IDA donations. (Flesch Readability Score: 63.4). [Digest: The Act removes the annual cap on matching funds for IDA holders and creates a cap on total matching funds. (Flesch Readability Score: 71.2).] [Removes the annual cap on matching funds that an individual development account holder may accrue. Establishes a cap on total matching funds that the account holder may accrue. Provides for the modification of the cap to account for effects of inflation.] Increases the aggregate amount of tax credits allowed to taxpayers in a tax year for donations for individual development accounts.

Statutes affected:
Introduced: 458.690
A-Engrossed: 315.271