The bill, titled the "Tax Credits for Parental Choice in Education Act," proposes an amendment to the South Carolina Code of Laws by adding Section 12-6-3830. This new section allows individuals who choose to educate their children outside the public school system to receive a refundable income tax credit of up to three thousand dollars for each child. To qualify for this credit, the child must meet all applicable private school or home school standards as mandated by law. Additionally, the South Carolina Department of Revenue will include a line item on the individual income tax form for taxpayers to claim this credit, which must be submitted using a form prescribed by the department.

The act is set to take effect upon approval by the Governor and will first apply to income tax years following 2024. This initiative aims to provide financial support to families opting for alternative education methods, thereby promoting parental choice in education within the state.

Statutes affected:
12/11/2024: 12-6-3830
Latest Version: 12-6-3830