Bill > HB1039

This bill increases the college savings tax credit provided for contributions to a college choice 529 education savings plan. Beginning in the 2025 tax year, the credit for a single taxpayer will increase from $1,500 to $2,000, and for a married taxpayer filing separately, the credit will increase from $750 to $1,000, subject to other requirements. The bill also provides rules for when contributions made after the end of a tax year can be considered made in the previous year.