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69th Legislature 2025 HB 845.1
- 1 - Authorized Print Version – HB 845
1 HOUSE BILL NO. 845
2 INTRODUCED BY J. DARLING, M. NIKOLAKAKOS, E. TILLEMAN
3
4 A BILL FOR AN ACT ENTITLED: “AN ACT INCREASING THE INCOME TAX DEDUCTION FOR
5 CONTRIBUTIONS TO A FAMILY EDUCATION SAVINGS ACCOUNT; PROVIDING FOR INFLATIONARY
6 INCREASES; AMENDING SECTION 15-62-207, MCA; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE
7 AND A RETROACTIVE APPLICABILITY DATE.”
8
9 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
10
11 Section 15-62-207, MCA, is amended to read:
12 "15-62-207.
13 individual who contributes to one or more accounts in a tax year is entitled to reduce the individual's adjusted
14 gross income, in accordance with 15-30-2120, by the total amount of the contributions, but not more than
15 $3,000 $4,500 in tax year 2025.
16 (2) The contribution must be made to an account owned by the contributor, the contributor's
17 spouse, or the contributor's child or stepchild if the contributor's child or stepchild is a Montana resident.
18 (3) The total amount of the contributions for each subsequent tax year is determined by multiplying
19 the amount in subsection (1) by an inflation factor determined by dividing the consumer price index fund for
20 June of the previous tax year by the consumer price index for June 2024 and rounding the resulting figure to
21 the nearest $100 increment."
22
23 NEW SECTION. Section 2. [This act] is effective on passage and approval.
24
25 NEW SECTION. Section 3.
26 meaning of 1-2-109, to tax years beginning after December 31, 2024.
27 - END -