Establishes a college student expense personal income tax credit for a taxpayer or such taxpayer's dependents who are enrolled full-time in an undergraduate college, equal to the amount paid for new and used required textbooks and laptop computers not to exceed one thousand dollars.
Establishes a personal income tax deduction for the interest paid on student loans by individual taxpayers having a federal adjusted income of between $65,000 and $125,000, and married taxpayers filing jointly having a federal adjusted income of between $130,000 and $250,000.
Amends the college tuition credit; eliminates the credit for taxpayers whose adjusted gross income is over $15,000,000; sets a sliding scale.
Authorizes a state personal income tax credit for elementary and secondary school personnel for certain expenses incurred for school related supplies for taxable years beginning on or after January 1, 2026.
Personal income taxes: credit: full-time community college students.
Provides that any taxpayer who employees twenty or fewer employees, the first fifty thousand dollars is exempted from taxation.
Establishes a cannabis processor tax credit; authorizes a tax credit that is the equivalent to the licensed processor's cannabis potency tax liability for the year two thousand twenty-three, multiplied by three, but shall not exceed four hundred thousand dollars.
Establishes an income tax credit for taxpayers who claim a dependent under the age of six (OR -$65,200,000 GF RV See Note)
Establishes a cannabis processor tax credit; authorizes a tax credit that is the equivalent to the licensed processor's cannabis potency tax liability for the year two thousand twenty-three, multiplied by three, but shall not exceed four hundred thousand dollars.
Establishing the education opportunity tax credit to provide an income tax credit for taxpayers with eligible dependent children who are not enrolled in public school.