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2023 SESSION

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HB 2480 Home instruction and private school; tax credit, created.

Introduced by: Dave A. LaRock | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

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.


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