Bill > A00485

This bill establishes a personal income tax credit for parents who home school their children in New York State, allowing resident taxpayers who maintain a home school in compliance with state education regulations to receive a tax credit for learning materials purchased during the taxable year. The credit would cover expenses such as textbooks, workbooks, supplemental reading material, videos, and software, with a maximum annual limit of $2,400. If the credit amount exceeds the taxpayer's tax liability for the year, the excess will be treated as an overpayment and can be credited or refunded without interest. For married couples filing joint federal returns but calculating New York taxes separately, the credit can be applied against either spouse's tax or divided between them as they choose. The bill would take effect immediately and apply to taxable years beginning on or after January 1, 2026, providing financial support to families who choose to educate their children at home by offsetting some of the educational material costs.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A485