Assembly Bill A1472

2023-2024 Legislative Session

Provides a personal income tax credit for parents who home school their children

download bill text pdf

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Current Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-A1472 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2019-2020: A6676
2021-2022: A2526

2023-A1472 (ACTIVE) - Summary

Provides a personal income tax credit for parents who home school their children equal to the cost of learning materials purchased for home school purposes during the taxable year.

2023-A1472 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1472
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 17, 2023
                                ___________
 
 Introduced  by M. of A. WOERNER -- read once and referred to the Commit-
   tee on Ways and Means
 
 AN ACT to amend the tax law, in  relation  to  establishing  a  personal
   income tax credit for parents who home school their children
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
 subsection (c-2) to read as follows:
   (C-2)  HOME  SCHOOLING CREDIT. (1) A RESIDENT TAXPAYER WHO MAINTAINS A
 HOME SCHOOL IN COMPLIANCE WITH THE  REGULATIONS  OF  THE  DEPARTMENT  OF
 EDUCATION  SHALL BE ALLOWED A CREDIT EQUAL TO THE COST OF LEARNING MATE-
 RIALS PURCHASED FOR HOME SCHOOLING PURPOSES  DURING  THE  TAXABLE  YEAR,
 PROVIDED  THAT  SUCH  CREDIT  SHALL NOT EXCEED TWO THOUSAND FOUR HUNDRED
 DOLLARS. FOR PURPOSES OF THIS SUBSECTION THE TERM  "LEARNING  MATERIALS"
 SHALL  INCLUDE,  BUT  SHALL  NOT  BE  LIMITED  TO, TEXTBOOKS, WORKBOOKS,
 SUPPLEMENTAL READING MATERIAL, VIDEOS, AND SOFTWARE.
   (2) IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR  ANY
 TAXABLE  YEAR  SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS
 SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED  IN
 ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
 ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   (3) IN THE CASE OF A HUSBAND AND WIFE WHO FILE A JOINT FEDERAL RETURN,
 BUT  WHO  ARE REQUIRED TO DETERMINE THEIR NEW YORK TAXES SEPARATELY, THE
 CREDIT ALLOWED PURSUANT TO THIS SUBSECTION MAY BE  APPLIED  AGAINST  THE
 TAX IMPOSED OF EITHER OR DIVIDED BETWEEN THEM AS THEY MAY ELECT.
   § 2. This act shall take effect immediately and shall apply to taxable
 years commencing on and after January 1, 2024.
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04927-01-3

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