SPONSOR: Basye
Beginning January 1, 2022, any individual may claim an income tax credit for the costs of expenditures made in connection with the enrollment, attendance, or participation of the taxpayer's dependent child in a virtual or remote-learning private school program or public school program for the period beginning on the date on which the Governor signed Executive Order 20 02 and ending on December 31st of the tax year for which a taxpayer claims the tax credit.
Qualifying expenditures include, but are not limited to, tuition, fees, tutoring, computer software, textbooks, workbooks, curricula, school supplies other than personal computers, and other written materials used primarily for academic instruction or academic tutoring.
The amount of the tax credit is the amount spent by a taxpayer on education expenditures during the period beginning on the date on which the Governor signed Executive Order 20 02 and ending on December 31st of the tax year for which a taxpayer claims the tax credit, up to the total amount of local property tax for which the taxpayer was liable over the same period, less the total amount of all tax credits previously claimed by the taxpayer under this section in all previous tax years.
The amount of the tax credit may not exceed the taxpayer's income tax liability for the year in which the taxpayer claims the tax credit.
The tax credit is nonrefundable and may not be assigned, transferred, sold, or otherwise conveyed.
The provisions of this bill sunset on December 31st six years after the effective date unless reauthorized by the General Assembly.
Statutes affected: