Establishes the "education affordability act" and tax credit; provides credits against income and corporate franchise tax for various qualified education investments including scholarships, education funds and home-based instructional materials.
Establishes Public Education Innovation Fund; provides corporation business tax and gross income tax credits to businesses for making qualified education donations.
In educational tax credits, further providing for definitions and providing for compliance with Federal tax credit for contributions to scholarship organizations.
Directs the commissioner of taxation and finance to help entities to elect to participate in the federal tax credit for elementary and secondary scholarships known as the Educational Choice for Children Act of 2025.