summary
Introduced
01/10/2023
01/10/2023
In Committee
01/10/2023
01/10/2023
Crossed Over
Passed
Dead
04/28/2023
04/28/2023
Introduced Session
2023 Regular Session
Bill Summary
College savings tax credit. Beginning in taxable year 2024, increases the credit provided for a contribution to a college choice 529 education savings plan against a taxpayer's adjusted gross income from $1,500 to $2,000 (and from $750 to $1,000 in the case of a married individual filing a separate return), subject to other requirements.
AI Summary
This bill increases the college savings tax credit against a taxpayer's adjusted gross income from $1,500 to $2,000 (and from $750 to $1,000 for married individuals filing separately) for contributions made to a college choice 529 education savings plan, beginning in the 2024 tax year. The bill also makes changes to the definitions and requirements related to qualified withdrawals and nonqualified withdrawals from these accounts.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
First reading: referred to Committee on Ways and Means (on 01/10/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://iga.in.gov/legislative/2023/bills/house/1233/ |
| BillText | https://iga.in.gov/static-documents/3/9/6/5/396597a9/HB1233.01.INTR.pdf |
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