Increases the aggregate amount of tax credits allowed to taxpayers in a tax year for donations for individual development accounts.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.
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HB 2735 House Committee On Revenue
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