Bill No. HB2480
Bill ID
1672890
State
VA
Title
Home instruction and private school; tax credit, created.
Description
Home instruction and private school tax credit. Creates a nonrefundable tax credit for taxable years 2023 through 2027 for parents or legal guardians of a child who is homeschooled or attends a private school in Virginia. The bill provides that the credit is equal to the lesser of (i) half of the average state Standards of Quality funding per student per year or (ii) the costs incurred for instruction-related materials, courses or programs used in home instruction, or private school tuition and is limited to 1,000 children selected by an application and lottery process developed by the Department of Education. Any savings resulting from the credit of less than a student's full state Standards of Quality funding to an individual or married couple shall be deposited into the School Construction Fund. Home instruction and private school tax credit. Creates a nonrefundable tax credit for taxable years 2023 through 2027 for parents or legal guardians of a child who is homeschooled or attends a private school in Virginia. The bill provides that the credit is equal to the lesser of (i) half of the average state Standards of Quality funding per student per year or (ii) the costs incurred for instruction-related materials, courses or programs used in home instruction, or private school tuition and is limited to 1,000 children selected by an application and lottery process developed by the Department of Education. Any savings resulting from the credit of less than a student's full state Standards of Quality funding to an individual or married couple shall be deposited into the School Construction Fund.
Bill Type
Bill
Category
Homeschooling, Individual Tax Credit or Benefit, New Program
Session
2023 Regular Session
Special Session
No Data Available
Current Status
Introduced
Status Last Updated
2023-01-20
Pending Committee
Calendar
Sponsors
Texts
Votes
Amendments
No data available