Bill > A02526

This bill provides a personal income tax credit for parents who home school their children. The credit is equal to the cost of learning materials purchased for home schooling purposes during the taxable year, up to a maximum of $2,400. The term "learning materials" includes textbooks, workbooks, supplemental reading material, videos, and software. If the credit exceeds the taxpayer's tax for the year, the excess is treated as an overpayment to be credited or refunded, though no interest will be paid. Married couples who file separately can apply the credit to either spouse's tax or divide it between them as they choose. The bill takes effect immediately and applies to taxable years starting on or after January 1, 2022.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2021/A2526