HB2735: Relating to individual development accounts.
Legislative Summary
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.
Demographic Impact
Overall analysis of equity impact
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Bill History
Amendments
House Committee On Housing and Homelessness Amendment #-2
House Committee On Housing and Homelessness (2025-04-02)
House Committee On Housing and Homelessness Amendment #-2
House Committee On Housing and Homelessness (2025-03-26)
Roll Call Votes
Status Information
Sponsors
Primary Sponsor
