Education expense subtraction and credit provisions modifications

This bill modifies Minnesota's K-12 education tax deductions and credits for families. It expands eligible expenses to include tuition paid to qualifying schools (including out-of-state schools in border states), increases the maximum annual deduction per child ($2,750 for K-6, $4,125 for 7-12), and adds automatic annual inflation adjustments to these amounts. The credit phaseout threshold for higher-income families is also raised. These changes directly affect Minnesota taxpayers with children in grades K-12 who claim education expenses on their state tax returns, effective for taxable years starting after December 31, 2024.