S. 5322 — Federal Tax Credit Scholarship Improvement Act

This section sets the maximum amount of the tax credit under section 25F at $1,700 per taxpayer ($3,400 for joint returns) and requires annual inflation adjustments to that amount for taxable years beginning after December 31, 2026, using the cost-of-living adjustment with 2025 as the base year and rounding to the nearest multiple of $50. The changes apply to taxable years beginning after December 31, 2025.