Bill > HB1180

This bill creates a tax credit for taxable years 2024 through 2028 that can be claimed by parents of children who receive home instruction or attend a private elementary or secondary school in Virginia. The credit covers certain "eligible education expenses," including instructional materials, tutoring, tuition, and standardized test fees. The amount of the credit varies based on the parent's Virginia adjusted gross income, with higher-income parents receiving a non-refundable credit of up to half the average state Standards of Quality funding per student, and lower-income parents receiving a refundable credit of up to 80% of that amount. Parents must provide certain documentation to claim the credit, and it cannot be claimed in conjunction with the Education Improvement Scholarships Tax Credit program.