Income tax deduction for recent graduates.

Provides an adjusted gross income tax deduction for Indiana residents who obtain: (1) a bachelor or an associate degree from a postsecondary educational institution; or (2) a certificate from a high value workforce certificate program, as determined by the commission for higher education (commission); in taxable years immediately following the taxable year in which the individual obtained the degree or certificate. Provides that a qualified individual is entitled to the tax deduction in each of the first two or four taxable years, depending on the type of degree or certificate obtained, that begin immediately following the taxable year in which the qualified individual completed the applicable educational program. Provides that the tax deduction for a particular qualified year is equal to the lesser of: (1) the amount of the individual's Indiana adjusted gross income; or (2) $50,000. Requires the commission to, in part, determine and certify an individual's eligibility for the tax deduction.