Bill > S0108

This bill introduces the "Tax Credits for Parental Choice in Education Act," which would provide a refundable income tax credit of $3,000 for each child that an individual educates outside the public school system. The tax credit would apply to parents who choose to send their children to private schools or homeschool them, provided that these alternative education methods meet all legal standards for private schools and home schooling. The South Carolina Department of Revenue would be required to add a specific line item on individual income tax forms to accommodate this credit, and parents would need to complete a department-prescribed form with the necessary information to claim the tax credit. The bill would take effect upon the Governor's approval and would first be applicable to income tax years after 2024, offering financial support to families who opt for educational alternatives to public schools.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=108&session=126&summary=B