House Bill 129

This act is the CHOOSE Act. This act: (1) establishes a refundable income tax credit program (the CHOOSE Act program) to offset the cost of qualifying educational expenses; (2) provides a credit for participating students attending participating schools in the amount of either $7,000 or the actual cost of qualifying educational expenses, whichever is less; (3) provides a credit for participating students not enrolled in a participating school in the amount of either $2,000 or the actual cost of qualifying expenses, whichever is less; (4) until January 1, 2027, makes the credit available to families of a participating student with an adjusted gross income not exceeding 300 percent of the federal poverty level and, after January 1, 2027, makes the credit available to all families of participating students; (5) provides that credits do not constitute taxable income; (6) establishes CHOOSE Act program requirements for parents of participating students, education service providers, and participating schools; (7) directs the Department of Revenue to establish education savings accounts to be made available to parents of participating students in order to access program funds; (8) requires the Department of Revenue to administer the CHOOSE Act program; (9) provides measures to prevent fraud or other misuse of CHOOSE Act program funds; and (10) establishes the CHOOSE Act fund.