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A00485 Summary:

BILL NOA00485
 
SAME ASNo Same As
 
SPONSORWoerner
 
COSPNSR
 
MLTSPNSR
 
Amd §606, Tax L
 
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.
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A00485 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A485
 
SPONSOR: Woerner
  TITLE OF BILL: An act to amend the tax law, in relation to establishing a personal income tax credit for parents who home school their children   PURPOSE: To establish a personal income tax credit for parents who home school their children.   SUMMARY OF PROVISIONS: Section 1: amends section 606 of the tax law to add a new subsection (c-2) to establish the "home schooling credit." 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 materials purchased for home schooling purposes. "Learning materials" shall include, but not be limited to, textbooks, workbooks, supplemental reading material, videos, and software. If the amount of the credit exceeds the taxpayer's tax for the year, the excess shall be treated as an overpayment of tax to be credited or refunded. 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 may be applied against the tax imposed on either or divided between them as they may elect. Section 2: establishes the effective date.   JUSTIFICATION: Parents who elect to home school their children are required to purchase learning materials such as textbooks, workbooks, supplemental reading material, etc., in order to comply with the regulations of the Depart- ment of Education. These parents must also pay property taxes, which go toward their local school district, despite not using the services offered by the school system. In many cases, this puts an undue finan- cial burden on families who choose to home school. The purpose of this tax credit is to alleviate some of that burden.   PRIOR LEGISLATIVE HISTORY: A.1472 of 2023-24: Referred to Ways and Means. A.2526 of 2021-22: Referred to Ways and Means. A.6676A of 2020: Referred to Ways and Means.   FISCAL IMPLICATIONS: To be determined   EFFECTIVE DATE: This act shall take effect immediately and shall apply to taxable years commencing on and after January 1, 2026.
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A00485 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                           485
 
                               2025-2026 Regular Sessions
 
                   IN ASSEMBLY
 
                                       (Prefiled)
 
                                     January 8, 2025
                                       ___________
 
        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:
 
     1    Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
     2  subsection (c-2) to read as follows:
     3    (c-2)  Home  schooling credit. (1) A resident taxpayer who maintains a
     4  home school in compliance with the  regulations  of  the  department  of
     5  education  shall be allowed a credit equal to the cost of learning mate-
     6  rials purchased for home schooling purposes  during  the  taxable  year,
     7  provided  that  such  credit  shall not exceed two thousand four hundred
     8  dollars. For purposes of this subsection the term  "learning  materials"
     9  shall  include,  but  shall  not  be  limited  to, textbooks, workbooks,
    10  supplemental reading material, videos, and software.
    11    (2) If the amount of the credit allowed under this subsection for  any
    12  taxable  year  shall exceed the taxpayer's tax for such year, the excess
    13  shall be treated as an overpayment of tax to be credited or refunded  in
    14  accordance with the provisions of section six hundred eighty-six of this
    15  article, provided, however, that no interest shall be paid thereon.
    16    (3)  In  the case of a married couple who file a joint federal return,
    17  but who are required to determine their New York taxes  separately,  the
    18  credit  allowed  pursuant  to this subsection may be applied against the
    19  tax imposed of either or divided between them as they may elect.
    20    § 2. This act shall take effect immediately and shall apply to taxable
    21  years commencing on and after January 1, 2026.
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01971-01-5
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