TAXATION – Amends and repeals existing law to revise the income tax rate, to extend the child tax credit indefinitely, and to repeal the Parental Choice Tax Credit.

Idaho's H 782 bill revises income tax rates for individuals and corporations, lowering the top individual rate to 5.325% by 2026 and gradually reducing corporate tax rates from 7.6% to 5.325% over time. It extends the child tax credit indefinitely - allowing $205 per qualifying child annually for families filing Idaho taxes - and permanently repeals the Parental Choice Tax Credit (which provided education-related tax breaks) and its advance payment fund. The bill directly affects Idaho residents (through individual tax changes), businesses (via corporate tax adjustments), and families with qualifying children (through the extended credit). Key mechanisms include automatic inflation adjustments for tax thresholds and the elimination of the Parental Choice program, effective immediately upon enactment.