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2005 SESSION

051165264
HOUSE BILL NO. 1898
Offered January 12, 2005
Prefiled January 7, 2005
A BILL to amend the Code of Virginia by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.11, relating to teacher expenses tax credit.
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Patrons-- Carrico and Hugo
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Referred to Committee on Finance
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Be it enacted by the General Assembly of Virginia:

1.  That the Code of Virginia is amended by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.11 as follows:

§ 58.1-339.11. Teacher expenses tax credit.

For taxable years beginning on or after January 1, 2006, any individual who teaches children in grades kindergarten through 12 shall be entitled to an annual credit against the tax levied pursuant to § 58.1-320 equal to the unreimbursed amount, not to exceed $500, paid by the taxpayer for supplies used in their classrooms while teaching in the Commonwealth in the taxable year in which the expenses are incurred.