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House panel advances bill to increase cap on individual development account tax credits
3464530 · May 22, 2025
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Summary
The committee voted to move House Bill 2,735 A, which raises the annual cap for tax credits for donations to Individual Development Accounts from $7.5 million to $16.5 million, and adopted a technical amendment aligning the sunset date.
The House Committee on Revenue on May 22 adopted the dash A3 amendment and voted to move House Bill 2,735 A to the floor with a due-pass recommendation and subsequent referral to the Joint Committee on Tax Expenditures.
The bill raises the annual cap on tax credits for donations to Individual Development Accounts from $7,500,000 to…
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