Bill H.249 proposes an income tax deduction for expenses related to home study programs for dependents in Vermont. Specifically, it allows taxpayers to deduct up to $1,000 for qualified expenses incurred for a dependent student enrolled in a home study program, as defined under federal law. The bill defines "qualified expenses" to include costs for educational instruction, materials, equipment, software, and computer hardware necessary for the home study program, whether conducted in person or through distance learning.

Additionally, the bill clarifies that the purpose of this deduction is to provide financial assistance to Vermonters who educate their dependents through home study programs. The effective date of the act is set to be retroactive to January 1, 2025, applying to taxable years beginning on or after that date. The bill also includes a deletion of a previous provision regarding cannabis-related deductions, streamlining the focus on home study program expenses.

Statutes affected:
As Introduced: 32-5811, 32-5813