(Boise) – The Idaho Legislature has overwhelmingly approved a plan to give Idahoans who are saving for college and business owners who support college savings efforts even more reasons to participate in IDeal—Idaho’s 529 College Savings Plan.

By a margin of 33-1, the Senate voted March 18 in favor of HB 550, a bill that provides a 20 percent tax credit for employers who contribute to IDeal. The House approved the bill earlier and it was signed into law on March 24th by Governor Brad Little.

“This legislation really helps address two important issues facing our state: encouraging more of our young people to pursue higher education and giving employers the ability to influence the increasing demand for a more educated workforce,” said Christine Stoll, Executive Director of IDeal, Idaho’s 529 College Savings Program. “I applaud the broad bipartisan support for this proposal, which recognizes its value for Idaho students, families and our future workforce,” she said.