This bill proposes the creation of a home education income tax credit for taxpayers in North Dakota who incur qualified educational expenses for their qualifying children. The new section to chapter 57-38 of the North Dakota Century Code allows taxpayers to claim a credit against their tax liability for up to one thousand dollars per qualifying child per taxable year, with a reduced limit of five hundred dollars for married individuals filing separately. The bill defines "qualified educational expenses" to include costs for items directly related to home education, such as books, tuition, and educational software, and specifies that a "qualifying child" must be a dependent under the age of nineteen who received home education during the taxable year.

Additionally, the bill introduces a new subdivision to subsection 7 of section 57-38-30.3, which references the home education income tax credit established in the new section. The credit is limited to the taxpayer's tax liability for the year and must be claimed in a manner prescribed by the tax commissioner. The provisions of this Act will take effect for taxable years beginning after December 31, 2024.