Bill > H3811

This bill creates a new tax credit for South Carolina parents whose children attend qualifying private schools, parochial schools, or are homeschooled. The tax credit is worth up to $7,000 per child or the actual cost of tuition, whichever is lower, and is refundable. To qualify, schools must provide an affidavit confirming they are a K-12 school, share their address and ability to enroll students, commit to educating students according to family expectations, make financial records available, and have an Employer Identification Number (EIN) or be properly registered in the case of homeschools. Parents cannot claim this credit if their child attended public school for more than 44 days in the tax year, and they are also prohibited from simultaneously claiming another exceptional needs tax credit. The bill includes provisions to prevent fraud, with potential criminal prosecution for fraudulent claims. Parents are given the right to seek legal action for violations, with limitations on non-economic damages. The State Treasurer will be responsible for maintaining a published list of qualifying schools and issuing eligibility certificates, and the tax department can create regulations to implement the program. The bill will take effect upon the Governor's approval.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=3811&session=126&summary=B