Dear Riverstone Families,
I am writing to share an important development from the Idaho Legislature that could significantly impact our families. This past week, the state passed House Bill 93 (HB 93), creating a new state tax credit program designed to help offset the costs of private education. Although the official application and implementation guidelines from the State Tax Commission will not be available until later this year, we want to ensure everyone is aware of this potential opportunity as soon as possible. Below is a brief overview of what we know so far and how it might benefit members of our school community. Please remember that details may evolve in the coming months, and we will continue to update you as more information becomes available.
- Families can receive a state tax credit of up to $5,000 per child (or $7,500 for children with disabilities) to cover eligible educational expenses starting January 1, 2025.
- Qualifying expenses include tuition, fees, books, curriculum, travel, standardized test fees (SAT, ACT, AP), and test prep courses for K-12 students in private schools.
- The application window for 2025 expenses will open on January 15, 2026, for a 60-day period. Priority will be given to families with a Modified Adjusted Gross Income (MAGI) under 300% of the federal poverty level, followed by a first-come, first-served basis.
- Families who receive the credit in 2026 and complete an end-of-year survey will be prioritized for future credits.
At this time, there’s no immediate action required on the part of Riverstone families interested in applying to this tax rebate program. We encourage families that are interested in applying to save receipts for any eligible expenses and be ready to apply once the forms become available.
If you plan to apply for this new tax credit, we encourage you to share your experiences and any challenges you encounter throughout the application process via this survey. By gathering real-world feedback from families, we will better understand the questions and obstacles that arise, allowing us to provide more effective support to other members of the school community. We intend to develop a comprehensive “Frequently Asked Questions” (FAQ) resource that addresses common concerns and helps all Riverstone families navigate this new initiative confidently.
We will keep you updated as more details are released.
Sincerely,
John Gasparini - Head of School