Bill No. HB1234
Bill ID
1810225
State
VA
Title
Eligible educators; increases tax deduction, creates home school instruction income tax credit.
Description
Eligible educator income tax deduction; home school instruction income tax credit. Increases from $500 to $1,500 for tax years 2024 through 2026 the amount of income tax deduction certain eligible educators may deduct for qualifying expenses. The bill also creates a nonrefundable tax credit for taxable years 2024 through 2028 for amounts paid by an individual or married couple filing jointly for their child receiving home instruction for (i) instruction-related materials, including textbooks, workbooks, and supplies, or (ii) courses or programs used in home instruction. The bill provides that the credit equals the lesser of the amount actually paid during the year for such costs or $3,000.
Bill Type
Bill
Category
Homeschooling, New Program
Session
2024 Regular Session
Special Session
No Data Available
Current Status
Introduced
Status Last Updated
2024-01-10
Pending Committee